Your choice: To ditch Social Security tax withholding or not
Business Management Daily
AUGUST 17, 2020
Section 7508 was amended in 2005, by the Katrina Emergency Tax Relief Act (P.L. Employees who generally earn more than $4,000 per biweekly pay period get nothing. The risk is that until the IRS says otherwise, you will still owe the taxes and your take-home pay next year may need to be reduced to pay for the deferral.
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