What Is Social Security Tax? Definition, Exemptions, and Example

What Is Social Security Tax? Definition, Exemptions, and Example

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The Social Security tax, levied on both employers and employees, funds Social Security and is collected in the form of a payroll tax or a self-employment tax.

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What Is Social Security Tax? Definition, Exemptions, and Example

What Is Social Security Tax? Definition, Exemptions, and Example

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What Is Social Security Tax? Definition, Exemptions, and Example