Survey: 46 percent unaware of payroll tax break
Many Americans are unaware of the reduction in Social Security payroll taxes that’s increasing their take-home pay this year, according to a survey by the National Foundation for Credit Counseling (NFCC). Nearly half of the 2,037 survey respondents, 46 percent, were unaware of the tax break, which cuts workers’ share of payroll taxes by nearly one-third this year. Forty-two percent of respondents said they would use the extra money to reduce their debt, while 8 percent said they would save it.
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