Trump's Payroll Tax "Holiday," Explained

If you're employed in the U.S., odds are you pay a payroll tax to fund Social Security and Medicare. Starting September 1, some workers will see that tax "deferred" until 2021, through an order from President Trump. That means temporarily bigger paychecks for some, but be warned: It's no giveaway. Here's what to know about the order, who's participating, and why "double withholding" means smaller paychecks later.

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Trump's Payroll Tax "Holiday," Explained


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