What the Payroll Tax Deferral Means for You

In a nutshell, your payroll taxes for Social Security could be put on hold until the end of 2020. This executive order mainly impacts two groups: eligible workers and their employers. If you’re an employee, what this means is that the employer portion of Social Security taxes is pushed back until the end of the year. In return, you’ll receive a four-month pay hike of 6.2%, explains Josh Zimmelman...
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