August 29, 2020 – Update – IRS Issues Guidance on Payroll Tax Deferral
On August 8, President Trump issued an executive action directing the Treasury Department to defer the withholding and payment of the employee portion of FICA tax on wages paid from September 1, 2020 to December 31, 2020. The executive order required the Treasury to provide guidance regarding the detailed rules and practical application of the payroll
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