Social Security

It comes as part of “an unprecedented series of extremely low” annual increases, according to an analyst with the nonpartisan Senior Citizens League.

More than 60 million Americans could receive slightly higher benefits next year, according to a nonpartisan advocacy group’s new projection.

The executive order provides "temporary relief for employers" to “pay the employee portion of Social Security payroll taxes,” confirms Republican Rep. Kevin Brady.

Threats to the program are multiplying and the coronavirus pandemic is accelerating a reckoning, according to a new analysis.

“Americans are relying on Social Security more than ever during this pandemic,” House Ways and Means Social Security subcommittee chairman John B. Larson wrote.

Trump’s order defers the payment deadline to the end of the year, though Treasury Secretary Steven Mnuchin has said company participation is optional.

The president has deferred payroll taxes that fund the program, and says he would eliminate them if elected to a second term.

New regulations have altered advice for Social Security, Roth conversions, tax code, estate planning and much more. Financial plans must be crafted with enough flexibility to change with the times.

From regulations to taxes, big changes could be in the offing.

The president said his action authorizes the U.S. Treasury to allow companies to defer — not suspend — payroll taxes for Americans making less than $100,000 a year from Sept. 1 through Dec. 31.