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Get ready for a paycheck boost through end of year

Paycheck boost coming
Posted at 9:14 PM, Sep 01, 2020
and last updated 2020-09-01 22:14:26-04

CORPUS CHRISTI, Texas — Many Americans will see a boost in their paychecks starting today.

It's because of a nationwide payroll-tax deferral.

The mandate defers the 6.2 percent tax that employees pay for social security.

Employers will be responsible for deferring and eventually paying that tax.

The deferral will only last through the end of the year.

Workers may see smaller paychecks early next year as companies withhold more to pay the Internal Revenue Service.