Presidential memo on deferring payroll taxes

As you may have heard, on Aug. 8, President Donald Trump issued a “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The memorandum defers, on a voluntary basis, the employee portion of certain payroll taxes from Sept. 1-Dec. 31, 2020.

There remain numerous open issues as to eligibility and the process to implement this memorandum. If and when the IRS issues guidance, and as matters develop, we will update you. Thank you for your patience. Questions regarding this matter may be referred to the mailbox.