Tax headache not worth the tax "relief"
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Post date: 2020-09-19 10:38:33 |
Views: 109 |
I am looking for USA tax information re: Covid Pay and also payroll tax stuff.
I am a little confused about taxes and the current situation in the US. Possibly this information is easily accessible in google, but I'm just not finding the exact thing.
Question #1: Currently my husband is at 1/2 time due to our children's school being open half time. He is receiving Covid Pay at 2/3 his salary for the 1/2 time he isn't at work. This wasn't taxed at all in his latest check. Are we going to be paying taxes on it later?
Question #2: Payroll taxes. I know this is getting deferred til 2021, but in January 2021 is my work supposed to be taking out double OR is the money going to just be due when I pay my 2020 taxes?
I'd like to accurately set aside the amount I need, but I'm having a hard time figuring out what it might be. Of course, my paycheck at work has changed also this month, so it is not just the equivalent to say--look at last month's paycheck to estimate tax differences. |
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