Contractors must use the formats provided in the below Post Award Exhibits. Contractors are required to justify their Economic Price Adjustment (Clause 552.216-70), Price Increases above 10% and 25% for paper products with letters from their suppliers or any other sources that are applicable.
Previously, the victory tax was applied to all medalists' reward money and the value of their medals. During the last Olympics, gold medalists received a sum of $25,000, silver medalists raked in $15,000, and bronze winners collect $10,000 â all of which were taxed as income. Meanwhile the value of medals were roughly $600 for gold, $300 for silver, and only $4 for bronze (which are mostly made out of copper).
Copyright Â© 2012 AARP. All rights reserved. Social Security is paid for through taxes. (No surprise there.) But youâre not the only one paying into the Social Security pot: Your employer also pays a portion of your Social Security tax.All that money thatâs taken out of your paycheck today goes to pay the benefits for todayâs retirees.If youâre a wage earner, you pay into the Social Security system straight out of your paycheck. This payroll tax is dubbed âFICA,â which stands for the Federal Insurance Contributions Act.ll that money thatâs taken out of your paycheck today goes to pay the benefits for todayâs retirees. If youâre a wage earner, you pay into the Social Security system straight out of your paycheck. This payroll tax is dubbed âFICA,â which stands for the Federal Insurance Contributions Act.