tax deferral

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.


Error message

Local news in the public interest is more important now than ever, during the COVID-19 crisis. Our reporters, as essential workers, are dedicated to keeping you informed, even though we’ve had to cancel fundraising events. Please give the gift of community journalism by donating at https://www.eastcountymedia.org/donate.