{"id":61894,"date":"2020-09-07T22:13:00","date_gmt":"2020-09-07T19:13:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nassau-otb-adopts-trumps-payroll-tax-pause\/"},"modified":"2020-09-07T22:13:00","modified_gmt":"2020-09-07T19:13:00","slug":"nassau-otb-adopts-trumps-payroll-tax-pause","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nassau-otb-adopts-trumps-payroll-tax-pause\/","title":{"rendered":"#Nassau OTB adopts Trump\u2019s payroll tax pause"},"content":{"rendered":"

“#Nassau OTB adopts Trump\u2019s payroll tax pause<\/strong>”<\/p>\n

\n
\n
\n

September 7, 2020 |<\/span> 3:13pm |<\/span> Updated September 7, 2020 | 3:52pm<\/span><\/p>\n

\n And they\u2019re off \u2014 to getting a temporary bump in their take-home pay.<\/p>\n

The Nassau County Off-Tracking Betting Corporation has taken up President Trump\u2019s call and is giving workers a pause in paying the 6.2 percent payroll tax, which funds Social<\/a> Security.<\/p>\n

The move will provide OTB employees more take-home pay in the short term during the COVID-19 pandemic \u2014 \u00a0but they could see less weekly money in early 2021 as they pay back the tax, unless Congress decides to finance the revenue loss, which is very questionable.<\/p>\n

Many businesses have declined to implement the payroll tax holiday despite Trump\u2019s Aug. 8 executive order urging the action because of the potential higher tax liability for workers down the road.<\/p>\n

The decision by Nassau OTB to embrace the temporary payroll tax relief will certainly raise eyebrows because the county-run bookie\u2019s president, Joseph Cairo, is also chairman of the Nassau County Republican Party.<\/p>\n

\u201cIt\u2019s just a gimmick because you have to pay the money back,\u201d said OTB cashier Jackson Leeds, who opposes the change.<\/p>\n

\u201cAnd it\u2019s political because Cairo is chairman of the Nassau County Republican Party,\u201d he added.<\/p>\n

The Nassau OTB Management\u2019s Sept 1 memo to workers says: \u201cPlease be advised that the \u2018take home pay\u2019 on your paycheck from now through December 31, 2020 will be higher than usual. This is because President Trump by memorandum of Aug. 8, 2020 has authorized employers to temporarily defer collection of your Social Security payroll tax (6.2%).<\/p>\n

\u201cThe amounts may eventually be forgiven by Congress but at this time is a deferral only, and should be viewed as a short term interest free loan that must be repaid\u2026Please be aware that this means that the `take home pay\u2019 in your January-April 2021 paychecks will be lower than you currently receive because the regular social security amount will be deducted as well as the payback amount,\u201d the Nassau OTB notice to workers said.<\/p>\n

A rep for Nassau OTB, former Sen. Al D\u2019Amato, defended the tax deferral as a good stimulus for the betting agency and its workforce.<\/p>\n

\u201cIt makes sense. You\u2019re paying people more and you\u2019re not laying off workers,\u201d said D\u2019Amato, whose Park Strategies lobbying firm represents Nassau OTB as a client.<\/p>\n

But the US Chamber of Commerce told the White House and congressional leaders last month that many of the nation\u2019s major industries would decline to implement the president\u2019s order to pause collecting the 6.2 percent payroll tax without a subsidy from Congress.<\/p>\n

\u201cUnder current law, the EO [executive order] creates a substantial tax liability for employees at the end of the deferral period. Without Congressional action to forgive this liability, it threatens to impose serious hardships on employees who will face a large tax bill as a result of deferral,\u201d the chamber said in an Aug. 18 letter to Treasury Secretary Steven Mnuchin, House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Mitch McConnell (R-Ky.).<\/p>\n

\u201cIf this were a suspension of the payroll tax so that employees were not forced to pay it back later, implementation would be less challenging. But under a simple deferral, employees would be stuck with a large tax bill in 2021. Many of our members consider it unfair to employees to make a decision that would force a big tax bill on them next year,\u201d the chamber said.<\/p>\n

\u201cIt would also be unworkable to implement a system where employees make this decision. Therefore, many of our members will likely decline to implement deferral, choosing instead to continue to withhold and remit to the government the payroll taxes required by law. We hope Congress and the Administration come together on a path that supports workers instead of burdening hardworking Americans with a large tax bill next year.\u201d\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

\n

If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

if you want to watch Movies<\/a> or Tv Shows go to Dizi.BuradaBiliyorum.Com<\/a> <\/span> for forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Nassau OTB adopts Trump\u2019s payroll tax pause” September 7, 2020 | 3:13pm | Updated September 7, 2020 | 3:52pm And they\u2019re off \u2014 to getting a temporary bump in their take-home pay. The Nassau County Off-Tracking Betting Corporation has taken up President Trump\u2019s call and is giving workers a pause in paying the 6.2 percent…<\/p>\n","protected":false},"author":1,"featured_media":61895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[65668],"class_list":["post-61894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-nassau-otb-adopts-trumps-payroll-tax-pause"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/61894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=61894"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/61894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/61895"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=61894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=61894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=61894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}