NEW YORK (AP) — As employees of small businesses get their first September paychecks, they’re probably receiving their usual amount _ company owners are still withholding money for Social Security despite a presidential order allowing the tax to be deferred. The order President Donald Trump signed Aug. 8 allows employers to stop withholding the 6.2% tax from Sept. 1 through Dec. 31 and requires that it be paid between Jan. 1 and April 30 of next year. But business owners are wary, saying the plan opens up the possibility that companies might ultimately have to pay the tax if staffers leave.
Susan Walsh/AP
FILE - In this Saturday, Aug. 8, 2020, file photo, President Donald Trump prepares to sign four executive orders during a news conference at the Trump National Golf Club in Bedminster, N.J. As employees of small businesses get their first September paychecks, they’re probably receiving their usual amount, as company owners are still withholding money for Social Security despite a presidential order allowing the tax to be deferred. (AP Photo/Susan Walsh, File)
Posted at 10:11 AM, Sep 05, 2020
and last updated 2020-09-05 13:11:13-04
Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
