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An executive action President Trump issued Saturday on the deferral of payroll taxes could put more money in your pocket soon. Much is still unknown about how the order will be implemented, but experts say to keep a few things in mind before making plans for that extra cash.1. It’s temporaryMany employees have a 6.2% Social Security tax withheld from their paychecks and remitted to the IRS on their behalf by their employer. “The executive order defers the withholding, deposit and payment of the tax,” says Matthew Keefer, a certified public accountant at Gorfine, Schiller & Gardyn in Owings Mills, Maryland. The deferral period runs from Sept. 1 through Dec. 31.2. You may not qualifyThe deferral is available only to employees whose pretax wages or compensation is generally less than ,000 biweekly, which works out to around 0,000 a year. And currently it doesn’t apply to people who are self-employed, notes Pete Isberg, vice president of government relations at human resources services firm ADP.3. The taxes are due eventually“This is a deferral of taxes, not a forgiveness of taxes,” says Michael Graetz, a tax law professor at Columbia University Law School in New York. “So at the end of the deferral period, all of those taxes will be owed unless Congress changes the law to say that they’re forgiven.”4. Consider setting the extra money aside for nowIf your employer stops withholding and you see a boost in your pay because of it, you might want to hang on to that cash for now, Keefer says. “Unless legislation is passed, the deferred tax from the executive order will be repaid in the future,” he says. Another option, Isberg adds, is to tell your employer to withhold additional money by filling out a new form W-4 at work.Of course, not all households can afford to set money aside these days. Still, if you need the money from this tax deferral now, don’t lose sight of the fact it could mean a tax bill later.5. Some employers may just keep withholding the tax anywayIt can take time for employers to revamp payroll systems, especially if they’re not using a payroll processing company, according to Isberg. Also, employers can be liable for employment taxes, even if they don’t withhold them, he says. “Employers know that, and they’re going to realize that, ‘Look, if I do this, could the IRS come back to me in January and just assess the full amount that should have been withheld?’ Well, technically they can,” Isberg explains.Most employers won’t want to ask their employees to repay four months of taxes, Graetz adds. “This turns out to be a very complicated problem,” he says.More From NerdWalletSome Taxpayers Face a Desperate Wait for IRS RefundsHow to Work Around Delays in Major IRS FunctionsIRS Data: Refunds Lag as Agency, Tax Filers Slow DownTina Orem is a writer at NerdWallet. Email: torem@nerdwallet.com. 2862

An illustration showing a Neuralink disk implant at different stages of implantation during a YouTube live stream presentation on Aug. 28. 146

Amid yet another scandal, Facebook is facing calls from investors and critics to shake up its leadership.But in an exclusive interview on Tuesday, CEO Mark Zuckerberg said he intends to stay on as chairman and that his No. 2, Sheryl Sandberg, isn't going anywhere either."Sheryl is a really important part of this company and is leading a lot of the efforts to address a lot of the biggest issues that we have," Zuckerberg told CNN Business' Laurie Segall. "She's been an important partner for me for 10 years. ... I hope that we work together for decades more to come."Asked if he would step down from the chairman role, Zuckerberg said, "that's not the plan."Last week, a New York Times report claimed the company had been not been transparent enough about Russian interference during the 2016 US election on its platform. The report also said Facebook hired a PR firm called Definers Public Affairs to dig up dirt on its competitors. The group also reportedly encouraged reporters to examine the links between liberal billionaire George Soros and activists protesting against Facebook.Zuckerberg also defended his C-suite and said he made substantive changes to the broader organization throughout the year."If you look at the management team at the end of 2018, it's quite different from what it was at the beginning of the year," he said. "On the product and engineering side, we completely restructured things."In May, Facebook underwent a major leadership shake up, and shuffled the executives in charge of its most popular apps, such as WhatsApp and Messenger. It also moved some top talent to work on new ventures like blockchain.Zuckerberg also pointed to new leaders in marketing, partnerships and communications. In addition, the company recently hired Former UK Deputy Prime Minister Nick Clegg to lead global affairs.Still, Zuckerberg wields extraordinary power at Facebook (FB). He holds the majority of voting power in the company.The-CNN-Wire 1967

As baseball nears the two-week countdown to the start of its delayed season, the coronavirus pandemic continues to keep more players off the field. The latest big name to be sidelined by a positive test for the virus is Eduardo Rodriguez. He was expected to start on opening day for the Boston Red Sox. The San Francisco Giants suspended workouts at Oracle Park as they awaited the results of weekend tests. The Chicago Cubs’ workout was delayed. Red Sox prospect Bobby Dalbec also tested positive for the virus. The Washington Nationals and Houston Astros resumed workouts after canceling practices on Monday because of testing delays.Last week, MLB and the MLBPA jointly announced on Friday that 31 players tested positive for COVID-19 amid the first round of tests as players resume training ahead of this year’s shortened season.Teams began working out last week at ballparks across the US as the coronavirus-shortened season is slated to get underway in three weeks. As part of MLB’s plan to resume, players and support staff will be frequently tested for the virus. 1079

Arizona officials have certified Joe Biden’s narrow victory over President Donald Trump in the state.Democratic Secretary of State Katie Hobbs and Republican Gov. Doug Ducey defended the integrity of the election even as lawyers for Trump were across town Monday arguing, without evidence, to nine Republican lawmakers that the election was marred by fraud.Lawsuits and legal action taken by the Trump campaign did not go far in Arizona, in at least one instance, the lawyers dropped a case seeking a recount of Election Day ballots. At Monday's certification event, Ducey said, “We do elections well here in Arizona. The system is strong.”Biden won Arizona by 0.3% of the nearly 3.4 million ballots cast, a margin of just under 10,500 votes. He’s the second Democrat in 70 years to win the state. Arizona's 11 electoral college votes will go to Biden.The certification also paves the way for Democrat Mark Kelly to take his seat in the U.S. Senate, formalizing his victory in a special election to replace the late John McCain.Kelly is scheduled to be sworn in on Wednesday in Washington. 1097