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Explaining “Payroll Taxes” and Who Pays Them
Yahoo Finance contributor Rickie Houston, in a post on their site, examines the composition of “payroll taxes,” a term that has again surfaced in the stream of commentary surrounding the COVID-19 pandemic and its economic implications. Houston’s article defines the term and its parts and associated rates, and outlines how this category of tax factored into early discussions on pandemic-driven economic relief discussions. The article concludes with a review of the payroll tax-related provisions of the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act,” specifically with respect to postponing part or all of the tax. Read this post here…