Tag: payroll tax
Can Congress overturn it? With all the other things in the news, it is easy to overlook the fact that the President’s proposal to defer Social Security payroll tax payments went into effect on September 1. Specifically, employers can stop withholding the 6.2-percent employee share of the Social Security tax through the end of t…
While a desirable goal, financing amounts to 25 percent of money needed to fix Social Security. On October 1, Massachusetts introduced a combined employer-employee tax of 0.75 percent of earnings, capped at the Social Security maximum of $132,900, to pay for a new program of family and medical leave. Specifically, beginning in 2021, employees in…
