The Trump Payroll Tax Cut—What It Means for Your Small Business

Author: External Author | | Categories: Payroll Tax Audit , Payroll Tax Debt Relief , Tax Accountant , Tax Accounting , Tax Consultant , Tax Preparation , Tax Resolution , Tax Resolution Specialist

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. 

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Original Article Source Credits:   The Balance Small Business  ,

Article Written By:  Jean Murray

Original Article Posted on:  September 02, 2020

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