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Trump's payroll tax deferral is about to take effect — what it will mean for you

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NEW YORK - The IRS issued long-awaited guidance on President Trump's payroll tax deferral last week, just four days before the executive measure is set to take effect, putting the onus of the financial break on employers.Companies can stop withholding employees' payroll taxes beginning Sept.

1, but workers are still on the hook to pay the taxes by the end of April 2021. It only applies to individuals earning less than $104,000 annually, or no more than $2,000 per week.The rules came about three weeks after Trump signed an executive action on Aug.

8 giving workers temporary tax holiday -- a move that he said would help households weather the coronavirus-induced economic recession.Critics, including Democrats and some Republicans, have argued.

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Hambantota port responds to fire onboard Drill Ship ‘West Polaris’ - newsfirst.lk
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Hambantota port responds to fire onboard Drill Ship ‘West Polaris’
Hambantota (News 1st); The Hambantota International Port Emergency Response Unit (ERU) together with the port’s Quality, Health, Safety & Environment Dept. (QHSE), and Port Control, responded to a fire that occurred onboard the drillship “West Polaris,” on Tuesday, 15th evening.The ship’s crew had alerted Port Control for assistance in dousing the sudden fire that had broken out in the ship’s emergency generator room.The ERU’s fire trucks arrived on the scene within minutes of being notified, assisting the crew to quickly contain the fire with charged fire hoses. The respective ERU teams brought the fire fully under control within 33 minutes of their arrival. They were able to prevent serious damage to the ship, or its surrounding area.“The joint effort of this venture reflects professionalism and assurance to HIP port users and stakeholders of optimum safety and proactive response to unforeseen events related in maritime operations,” said Tissa Wickramasinghe, COO of HIPG.The 14-year-old “West Polaris” called at the Hambantota Port for a layup on 11th January 2021, and was at Berth 6 when the fire occurred. The ship is expected to remain in port until June 2022.What is vessel Lay-Up?The term ‘Laid-up’ or ‘Lay-up’ of ships technically means ships that have temporarily been taken out of profitable service due to lack of charter or cargo.Sometimes, an increase in the freight costs becomes insufficient to cover the ships’ running costs.
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