Presidential Memorandum on Deferring Payroll Tax due to COVID-19

On August 8, 2020, the President issued a Memorandum for the Secretary of the Treasury.

Below is a brief summary of it followed by a link to full memorandum.

A payroll tax deferral (which may or may not eventually be forgiven) is available for wages paid to employees paid less than $4,000 bi-weekly before tax for wages paid between September 1, 2020 and December 31, 2020.

Presidential Memorandum Deferring Payroll Tax Obligations in Light of Ongoing COVID-19 Disaster