The Trump Payroll Tax Cut—What It Means for Your Small Business
On August 8, 2020, President Donald Trump issued a memorandum allowing employers (including government agencies) to defer withholding and payment of the employee’s part of Social Security taxes, effective September 1, 2020, through December 31, 2020.1 This is an emergency declaration to give temporary relief to American workers during the COVID-19 pandemic.
Original Article Source Credits: The Balance Small Business , https://www.thebalancesmb.com/
Article Written By: Jean Murray
Original Article Posted on: September 02, 2020
Link to Original Article: https://www.thebalancesmb.com/the-trump-payroll-tax-cut-what-it-means-for-your-small-business-5076486