Deferring Payroll Taxes–10 Key Points to Consider before Deciding to Participate
What are the 10 Key Points to consider when employers evaluate if they should participate in the payroll tax deferral issued by President Trump in August?
Because of the need for additional guidance and the challenging administrative responsibilities, many employers are electing not to offer the deferment.
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9/24/2020 01:55:45 pm
We have suggested to our clients that they think long and hard about participating. There is no guarantee, at all, that is an employee leaves that the employer will be able to recoup the deferred taxes from the employee and that they, the employer, will be on the hook.
9/27/2020 11:03:20 pm
Thank you for your input and agree. It also seems like the administrative process of tracking the deductions and paybacks would be time consuming for employers.
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