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Payroll Tax Holiday – Update

August 31, 2020

Executive Order, FICA Tax, Payroll Tax Holiday, Treasury

Treasury released “guidance” Friday night to clarify President Trump’s August 8th executive order pertaining to the “deferral of employees FICA tax withholding” during the pay period September 1-December 31, 2020.…

Payroll Tax Holiday – Our Thoughts

August 21, 2020

Larry the Payroll Guy

COVID 19 and CARES ACT, Payroll, Taxes

Executive Order, FICA Tax, Payroll Tax Holiday

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President Trump signed an executive order on August 8th which orders employers to stop withholding the 6.2% FICA/social security tax from employees, effective for paydays from September 1-December 31, 2020.…