So the President has issued an executive order that defers payroll tax from your paycheck for the next four months. This is to put more dollars into folks hands to help with all the extra crazy expenses that seem to be everywhere these days. That’s great, but there is a catch. Starting again in January the taxes will start coming out of your check, but they will be taking the taxes from September through December as well. Yeah those taxes they don’t take out now, you still owe. Ouch!
Click here for the full tax deferment breakdown.