Social Security Tax Deferral

On its website, the IRS has provided special instructions for reporting any deferred amount of employee Social Security tax on the 2020 Form W-2, Wage and Tax Statement [Form W-2 Reporting of Employee Social Security Tax Deferred Under Notice 2020-65, 10/29/2020]. Tax deferral. An executive memorandum...

Instructions for Employers   On August 8, 2020, a Presidential Memorandum was issued, directing the Secretary of the Treasury to use his authority pursuant to section 7508A of the Internal Revenue Code to defer the withholding, deposit, and payment of certain payroll tax obligations. In response to...