Please ensure Javascript is enabled for purposes of website accessibility
Calculate Your Payroll Tax Savings Under Trump’s Executive Order
News
By News
Published 5 years ago on
August 14, 2020

Share

[aggregation-styles]

On August 8, President Donald Trump signed an executive order authorizing a temporary payroll tax deferral for American workers.

The deferral, which would be in effect between September and December 2020, would allow employers to refrain from withholding Social Security tax from employee paychecks. Employees earning about $100,000 or less per year would see an increase to each paycheck during the deferral period.

Typically, employees and employers each pay half of the total 12.4% Social Security tax due for each worker. But under the executive order, employers would refrain from withholding the 6.2% from employees for Social Security, but would still contribute their own portion for each worker.

Use this calculator to see how much your paycheck would increase due to Trump’s executive order to defer payroll taxes.

Read More →

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

Rise of the Anti-“Woke” Democrat

Free Food, Haircuts, and Rapid HIV Testing Friday in Fresno

48 minutes ago

California Is a Donor State, but Can It Stop Sending Its Tax Dollars to DC?

1 hour ago

This Israeli Government Is a Danger to Jews Everywhere

Israelis, diaspora Jewry and friends of Israel everywhere need to understand that the way Israel is fighting the war in the Gaza Strip today...

17 minutes ago

17 minutes ago

This Israeli Government Is a Danger to Jews Everywhere

24 minutes ago

Bass and Other California Mayors Call for End to Immigration Raids

31 minutes ago

Justice Department to Take Narrow Approach to Prosecuting Corporate Bribery Abroad

48 minutes ago

Free Food, Haircuts, and Rapid HIV Testing Friday in Fresno

1 hour ago

California Is a Donor State, but Can It Stop Sending Its Tax Dollars to DC?

Military Vehicles on LA Freeway 101
1 hour ago

Marines Prepare to Deploy in LA as More Protests Planned Across US

2 hours ago

Harvey Weinstein Convicted of Sex Crime Amid Contentious Jury Deliberations

2 hours ago

Federal Raids Threaten California Businesses as Immigrant Workers Vanish From Job Sites

Help continue the work that gets you the news that matters most.

Search

Send this to a friend