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An Update on the Payroll Tax Issue
Much has been written about President Trump’s position on payroll taxes and Social Security funding, from his enactment of an option to defer payment of the tax for the final four months of 2020 to the potential to abolish the tax altogether. At this point, it looks like to change in Social Security’s primary funding mechanism will not happen as envisioned, and the deferred taxes will still need to be paid according to the terms of the August presidential directive. The Motley Fool’s Christy Bieber takes a look at this topic in a post on mooresvilletribune.com, along with related thoughts on Social Security’s future funding issues. Check it out here…