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What you need to know about Trump’s executive order on payroll tax deferrals

In his memorandum, Trump directed the Treasury Secretary to defer the employee-side 6.2% payroll tax, which funds Social Security, for those making up to about $104,000 a year. The deferral period would start on Sept. 1 and end Dec. 31. But it has created more questions than answers for businesses and their employees.

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