Tag: payroll tax
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 the year for those earning…
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 Massachusetts will be eligible for: Up to 12 weeks: to care for new child or…
