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Biggest Reform EVER passed thread

Tomorrow is December and they still don't have a final bill. You think there is enough time to change withholding tables for 2018?

Witholding tables (in the past) are just personal exemptions, which are now gone. Its pretty easy math for ADP or whatnot to calculate what to withhold under the new plan, in fact it probably makes their lives much easier.
 
At least the Dems put things out there to show the republicans know what they say is full of shit.

Democrats just offered an amendment to ensure corporations use their tax savings to raise employee wages at the same rate they increase executive pay, stock buybacks and dividends to shareholders. Every single Republican voting, voted NO.
 
Witholding tables (in the past) are just personal exemptions, which are now gone. Its pretty easy math for ADP or whatnot to calculate what to withhold under the new plan, in fact it probably makes their lives much easier.

I find it hard to believe ADP just calculates withholding without input from the government. Do you have a link? This looks like more than personal exemptions:

https://www.irs.gov/pub/irs-pdf/p15.pdf
 
I find it hard to believe ADP just calculates withholding without input from the government. Do you have a link? This looks like more than personal exemptions:

https://www.irs.gov/pub/irs-pdf/p15.pdf

For the vast majority of companies, its very simple math. Perhaps there are certain industries or exceptions which make it complicated. I'm thinking perhaps for owners of pass-through companies as an example which may be more complicated.

But for the most part, the brackets change every year and ADP can handle it. This is just another bracket change for the majority of employees.
 
vote right now is send bill back to finance committee part 2
 
For the vast majority of companies, its very simple math. Perhaps there are certain industries or exceptions which make it complicated. I'm thinking perhaps for owners of pass-through companies as an example which may be more complicated.

But for the most part, the brackets change every year and ADP can handle it. This is just another bracket change for the majority of employees.

It's not about the complexity of the math, its about compliance and liability. I find it hard to believe companies just withhold without something to point to saying "we followed the rules." Also that the government would let them just withhold whatever they want.
 
Funny every time Palma posts something he has to post retractions and exceptions to the sweeping generalizations he made moments before
 
It's not about the complexity of the math, its about compliance and liability. I find it hard to believe companies just withhold without something to point to saying "we followed the rules." Also that the government would let them just withhold whatever they want.

Most all companies pay one or two companies $5-10/ per person/ per month to ensure compliance. Usually ADP or Paychex.
 
This is true for employee payroll tax.

Not true for corporate taxes and everything else.

most people pay outside CPA firms to do those things, I'd imagine. And most corporate taxes are just quarterly estimates. I don't see anything in this tax bill that makes it that much more complicated other than all the foreign holdings, etc.
 
FTR I did find something in my googling that made it sound like the withholding guidance was updated in mid-year in 2003 after the Bush tax cuts. So maybe they will change withholding during 2018. The only thing I remember about the Bush tax cuts were the $600 checks. I didn't realize that they went out almost immediately. Imagine if this bill mailed everyone a check just prior to Christmas.

Bush signs $1.3 trillion tax cut bill / $300-$600 rebate checks start going out next month
 
Let's partially pay for the estate tax cut by cutting $25B/year out of Medicare. This doesn't help the Trump or hurt the middle class.
 
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