TRUMP EXECUTIVE ACTION-PAYROLL TAX DEFERRALS (AUG. 31, 2020)
Dear Clients and Friends, The President’s recent executive action called for a payroll tax deferral for employees effective Sept 1 through year end. Employers would stop withholding the 6.2% FICA (aka social security) portion on employee paychecks. To get the deferral, employees must earn less than $4,000 every two weeks (equates to $104,000 annual salary). …
TRUMP EXECUTIVE ACTION-PAYROLL TAX DEFERRALS (AUG. 31, 2020) Read More »