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  2. AP FACT CHECK: Trump payroll tax cut is Social Security risk

    A 12.4% payroll tax split between employers and workers funds Social Security, while a 2.9% payroll tax finances Medicare. These taxes raised $1.24 trillion last year, according to the...

  3. What Are the 2020-2021 Federal Tax Brackets and Tax Rates?

    These three are the most important: The standard deduction for joint filers increases by $300 over 2020 levels to $25,100 in 2021. For individuals, it rises by $150 to $12,550. As mandated by the...

  4. Millions Are About to Get Slammed with a Surprise Tax ... - AOL

    The IRS writes that any Americans receiving state or federal unemployment benefits, including those paid from the Federal Unemployment Trust Fund, can opt to have 10% of those payments withheld....

  5. Taxing time: How the pandemic will affect filing your taxes

    A big shock may be facing the the self-employment tax rate, which for 2020 is15.3% on the first $137,700 of net income to cover Social Security and Medicare tax. This is not the same as income tax....

  6. Will You Have To Pay Taxes on Your Stimulus Checks? - AOL

    The stimulus payments in 2020 and 2021 were not taxable income because they were actually advance payments of tax credits. A tax credit is a dollar-for-dollar reduction in the amount of your tax ...

  7. Payroll tax - Wikipedia

    The social insurance rate is 31,5% for employees (6,5% paid by the employee and 25% by the employer) and 29,2% for freelancers. The income tax makes up to half of the national income. The health and social insurance make another 30-40%. France See also: Taxation in France

  8. Social Security Wage Base - Wikipedia

    In 2020, the Social Security Wage Base was $137,700 and in 2021 will be $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00.

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