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.
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.
PAYDAY Workforce Solutions provides a single database SAAS solution for Human Capital Management (HCM) including payroll, human resources, time management, benefits administration and onboarding to companies of all sizes and in various industries.
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