Posted on 02/14/2018 2:17:23 AM PST by Libloather
Mrs. Crumb in the Cloak Room with a golden Gavel.
Democrat destroyers........that about nails it.
This law MUST apply ONLY to the bonuses given in the early part of this year.
Otherwise——every CEO in the country will get a “BONUS” that will be considered tax free.
These tax free bonuses must be for the rank & file.....not the Board Members, etc.
Would a company have to prove or document somehow that the bonus was directly related to the tax cut and not due to some other existing bonus plan? Would this be in the form of a personal 1040 tax deduction when filing ones 2018 taxes? Because I dont see how an employer could reasonably remedy making it tax free to the employee if theyve already paid it and withheld taxes on it. And as a payroll professional, that would be a nightmare.
And I assume this would this only apply to federal tax and not to payroll taxes (SS and Medicare)? It certainly wouldnt effect state and local taxes unless a state legislature passed a similar bill.
I think this is more a publicity stunt and a well deserved jab at Polisi, rather than something thats actually going to happen.
the "Creating Relief and Useful Middle-Class Benefits and Savings" -- or "CRUMBS" Act.
This story will NOT being making the nightly news with ABC, CBS, NBC or even Bret Baier. Fox’s very own liberal news anchor...
LOL - I have the feeling he’s not going to be interested in this story...
Rep. Todd Rokita, R-Ind., has dubbed his bill the “Creating Relief and Useful Middle-Class Benefits and Savings” — or “CRUMBS” Act.
Wicked clever!
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