Additional Guidance Required on Trump’s Payroll Tax Deferral

On August 8, 2020, an executive order was signed that called for deferring the collection of employee’s payroll taxes – specifically the FICA portion (6.2%). Accountants, employers, payroll service providers all await additional guidance to prepare for the September 1st implementation date. Details are sparse but here are general points:

As soon as guidance is available, we will send out additional information. We will likely host a webinar to review the information and provide a forum for your questions. 

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