Payroll tax

PAYROLL TAX DEFERRAL TAKES EFFECT SEPTEMBER 1ST

Source: La Mesa Chamber of Commerce

 

October 9, 2020 (La Mesa) -- The IRS issued guidance on President Trump’s payroll tax deferral to defer tax from September 1st until December 31st. This guidance includes the following highlights:

 

  • Employers can defer the withholding, deposit, and payment of certain payroll taxes on wages paid from September 1st through December 31st.
  • Interest penalties, and additions to tax will begin to accrue on unpaid taxes starting May 1st, 2021.


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