The Internal Revenue Service (IRS) and the U.S. Treasury Department issued the Notice 2020-65, applying the recent Presidential Memorandum that lets employers payroll tax deferment option (i.e., postpone) withholding and Social Security Tax payment for the paid wages on 1st September 2020 through 31st December 2020.
The employers consider whether they should get an employee’s social security taxes under payroll tax deferment or not. They must know the below key takeaways from the Notice:
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