Tax Memo: Deferring Payroll Tax Obligations in Light of the Ongoing Pandemic

Updated: Nov 2

On August 8, 2020, President Trump signed an executive memorandum (the “Payroll Tax Memo”) with the subject of “Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The Payroll Tax Memo seeks to defer the due date for the employee portion of federal payroll taxes – 6.2% for Social Security and 1.45% for Medicare – originally due September 1, 2020, until December 31, 2020.

Read the full article here.


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