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IT'S A TAX DEFERRAL NOT TAX FORGIVENESS!
In this episode, we will talk about the new IRS Payroll Tax Holiday. Yes, it sounds too good to be true and IT IS.
Although your tax home pay may look pretty nice for the next few months, through December 31, 2020, you will have to pay all that money back beginning January - April, 2021. And you will have NO option.
It's time to be wise and not fall for the Okie Doke. Save your money so you are prepared for 2021.
There are still lots of gray areas, but one thing is for sure, unless new legislation is put in place to make it forgivable, you will be paying it back.
BE WISE and SAVE!
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By Valerie BoyceIn this episode, we will talk about the new IRS Payroll Tax Holiday. Yes, it sounds too good to be true and IT IS.
Although your tax home pay may look pretty nice for the next few months, through December 31, 2020, you will have to pay all that money back beginning January - April, 2021. And you will have NO option.
It's time to be wise and not fall for the Okie Doke. Save your money so you are prepared for 2021.
There are still lots of gray areas, but one thing is for sure, unless new legislation is put in place to make it forgivable, you will be paying it back.
BE WISE and SAVE!