Williams Benator & Libby

New IRS Guidance Allows, But Does Not Force, Employers to Postpone Withholding Payroll Taxes

In early August, President Trump signed an executive order declaring a payroll tax holiday. On Friday last week, the Internal Revenue Service issued guidance to address some of the logistical issues related to deferring payroll taxes. Per IRS Notice 2020-65, employers may opt out of withholding social security taxes... Read more