tax

Trump Accuses Judge of ‘Stacking the Deck’ Against Him in Tax Ruling

6 days ago

President Donald Trump’s lawyers on Friday accused a federal judge of “stacking the deck” against Trump in his long-running fight to block the Manhattan district attorney from getting his tax returns.

The assertion came in a legal filing in which Trump’s lawyers asked a federal appeals court to scrap a lower court’s decision that would allow the district attorney to obtain the returns and other financial records.

In a forceful and sharply worded brief, Trump’s lawyers said the judge, Victor Marrero of U.S. District Court in Manhattan, had given short shrift to their arguments that a subpoena seeking the tax returns was overly broad and amounted to political harassment.

The appeal was the latest turn in a protracted legal battle that began in August 2019, when the office of the district attorney, Cyrus R. Vance Jr., a Democrat, issued the subpoena to Trump’s accounting firm seeking eight years of the

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As Trump’s payroll tax holiday kicks in, here’s what employers and employees need to know

3 weeks ago

Employers are down to the wire to decide if they want to opt in to President Trump’s so-called payroll tax holiday, and tax experts note there’s a plethora of possible consequences to deferring the payroll taxes.

Back in early August, Trump issued a memorandum that would allow employers to defer the employee portion of the Social Security tax (that 6.2% per paycheck) for employees making less than $4,000 bi-weekly (or roughly $104,000 per year) from September 1 through December 31 this year. But guidance released by the IRS and Treasury on Friday, just days before the holiday would start taking effect, has many experts skeptical of the scheme.

While not explicitly stated in the guidance, experts believe it’s clear employers will be able to opt out of participating—and that most would indeed skew on the conservative side and do just that.

The upshot is that employees could temporarily see

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