Trump says he has 'prepaid' tens of millions of dollars in taxes
President Donald Trump and former Vice President Joe Biden squared off in Nashville, Tennessee, on Thursday night for the second and final debate before Election Day. Unlike their first debate, the tone was much more civil but the questions early on were familiar as Biden again badgered the incumbent to release his tax returns.A blockbuster report in The New York Times in September claimed the president paid no taxes for several years before he was elected to office and paid only $750 in 2016.The president accused Biden and several of his family members of being corrupt, which Biden denied and...
New York Daily News
Will Trump's payroll tax deferral boost your paycheck? Maybe for a time, if your employer participates — but 'it's not free money.'
President Donald Trump’s payroll tax deferral took effect Tuesday, but some accountants are advising employers against implementing it.The deferral allows employees to delay until Dec. 31 paying the 6.2% tax that comes out of paychecks for Social Security.Here’s how it works for employees, and what employers might be considering.—Who is eligible?Employees can only participate in the deferral if their employers offer it.Workers who make less than $4,000 in a two-week period before taxes are deducted, or $104,000 annually will be eligible for the deferral. It will temporarily increase take-home ...