IRS Issues Guidance Addressing President Trump’s Order on Payroll Tax Deferral
By Michael Bodrato
Presidential Memorandum
On August 8th, President Trump signed a Presidential Memorandum to direct the Treasury Secretary to use his authority to defer the withholding, deposit and payment of certain payroll taxes from employees suffering under the economic hardships brought about by the Coronavirus Pandemic. The President’s order is made applicable to wages and compensation paid during the period of September 1, 2020, through December 31, 2020, and is subject...
