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New law eases tax repayment pain for more than a million troops

New law eases tax repayment pain for more than a million troops
Military members and federal civilians will see a significantly smaller bite out of their paychecks under a new law that stretches their repayment of deferred payroll taxes to 12 months instead of four.

The provision is included in the spending bill that was signed into law by President Donald Trump on Dec. 27. The law includes pandemic relief and federal spending.

Under guidance from the Internal Revenue Service, defense officials were set to start collecting deferred Social Security payroll taxes from troops’ paychecks over a four-month period spanning January through April — paying back the extra money that troops received in their paychecks from September through December.

Read the full article on Federal Times

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