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The IRS clarified on Friday that companies will be obligated not to take Social Security taxes from paychecks starting next week running through the end of the year.Nearly all Americans are taxed 6.2% per check to go toward Social Security. For now, barring any action from Congress, most Americans will see larger paychecks through the end of the year. The guidance is based on an executive order signed earlier this month by President Trump in hopes of stimulating the economy.Related: What a payroll tax deferral may mean for your paycheck and taxesThe Social Security tax deferment is applicable to workers who make up to ,000 on a bi-weekly basis. Those making more than ,000 every two weeks will continue to have their Social Security taxes withheld from checks.The deferment is not an actual tax cut, and because the deferment was done via executive order rather than an act of Congress, the taxes will need paid back by April 30, 2021.The White House has said they would like to see the elimination of the Social Security payroll tax be made permanent in an effort to lower the tax burden. Opponents say that eliminating the tax on Americans would make Social Security insolvent.Stephen Goss, the chief actuary for the Social Security Administration, told the US Senate this week that a hypothetical bill that would make the tax deferment permanent would cause Social Security to no longer be able to make payments to beneficiaries by the middle of 2023.For employees making ,000 a year, the elimination of Social Security taxes would result in an extra per paycheck every two weeks. Assuming the employee has eight paychecks left in 2020, that would result in 2 in taxes deferred in 2020, which would be repaid in 2021. For employees making ,000 per year, those figures would be doubled. 1821
The jury in the trial of former Donald Trump campaign chairman Paul Manafort will return to court Friday morning for its second day of deliberations.After a full day Thursday, the jury hadn't yet reached a verdict on the 18 counts of tax evasion, bank fraud and hiding foreign bank accounts brought by special counsel Robert Mueller as part of the investigation into Russian interference in the 2016 US election.The trial carries major implications for the future of the Mueller investigation. The President has repeatedly called the probe a "witch hunt" that hasn't found evidence of Russian collusion with his campaign, and Trump's allies in and out of the White House say the special counsel should wrap things up.An acquittal of Manafort would add to criticism that Mueller's investigation hasn't been worth the time and expense. 841

The National Weather Service confirmed that two EF-0 tornadoes touched down in Fort Lauderdale Tuesday afternoon.According to the National Weather Service in Miami, one tornado touched down in downtown Fort Lauderdale near Andrews Avenue and NE 5th Street at about 3:34 p.m. The tornado, packing winds of 65 mph, knocked over construction fencing and barriers. A minor tree damage was reported near NE 1st Avenue and NE 4th Street. The NWS says the tornado touched down south of the Tarpon River in the Rio Vista neighborhood, causing tree damages and minor debris, including trash cans. 637
The parents of an Alabama high school freshman quarterback are suing a school district for million after they said several teammates beat up the teen and stomped on him after practice.The attack was recorded on cell phone video at Davidson High School in Mobile on April 27. It was posted on social media, where it has been widely viewed.Parents Rodney and Mary Kim said Wednesday that the alleged hazing left their son, Rodney Kim Jr., 14, with a broken arm. 471
The original cast of "Hamilton" is reuniting Friday for a virtual fundraiser for Democratic presidential nominee Joe Biden.Cast members will include creator Lin-Manuel Miranda and Daveed Diggs, Renée Elise Goldsberry, Jonathan Groff, and Leslie Odom, Jr. as part of a special "grassroots fundraiser" for the Biden Victory Fund.The cast will participate in a Q&A that will be moderated by director Thomas Kail. Cast members will then entertain with a performance afterward.The fundraiser begins at 9 p.m. ET, and any donation is accepted to join the event. 567
来源:资阳报