PAYDAY Workforce Solutions Blog

Employers Await Payroll Tax Deferral Guidance

On August 8, 2020, the President signed a Presidential Memorandum directing the Secretary of the Treasury to use his authority to defer the withholding, deposit, and payment of the employee’s share of Social Security tax on wages paid from.

New Payroll Tax Tables Show Expired Tax Cuts

Congress passed legislation New Year’s Day that has extended the 2001 and 2003 Bush tax cuts, but allowed the temporary 2% payroll tax cut on Social Security withholding to expire.

What Are Payroll Taxes for 2013?

For the last two years employees have enjoyed a 2% discount on their portion of payroll taxes. Social Security withholding is set at a rate of 12.4% on wages up to a maximum of $110,100, but that maximum income level rose to $113,700 in 2013. For.

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