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U.S. Treasury Payroll Taxes

Littler

Nevada Passes Legislation Creating Licensing Requirements for Earned Wage Access Providers

Littler on

On June 15, 2023, Nevada Governor Joe Lombardo signed SB 290, which requires early wage access (EWA) providers to obtain a license from the Commissioner of Financial Institutions. This is the first EWA law enacted by any...more

McCarter & English, LLP

New PPP Rules Benefit Self-Employed Individuals

Last year, self-employed individuals who conducted their business without any employees could qualify for a Paycheck Protection Program (PPP) loan in an amount equal to approximately 20.8% (2.5 months divided by 12 months) of...more

Laner Muchin, Ltd.

IRS Issues Guidance on President Trump’s Payroll Tax Deferral Executive Order

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On August 8, 2020, President Trump issued an Executive Order to the Secretary of Treasury directing the Department to defer the obligation of employers to withhold, deposit, and pay the employee share of Social Security...more

Orrick - Finance 20/20

Treasury and IRS Issue Guidance on Deferred Payroll Taxes

Orrick - Finance 20/20 on

On August 28, the U.S. Treasury Department and the IRS issued guidance to employers regarding the executive action taken earlier this month to defer certain employee payroll taxes through the end of the year. The guidance...more

Morgan Lewis

IRS Notice 2020-65 Provides Guidance on Deferring Employee Social Security Taxes

Morgan Lewis on

The US Department of the Treasury and the Internal Revenue Service have issued guidance with respect to US President Donald Trump’s August 8, 2020 Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing...more

Nutter McClennen & Fish LLP

Treasury Provides Guidance on Employee Social Security Tax Deferral

On August 8, 2020, President Trump issued an executive action directing the Secretary of the Treasury to use the Secretary’s authority under Section 7508A of the Internal Revenue Code of 1986, as amended (the “Code”), which...more

Bradley Arant Boult Cummings LLP

What Employers Need To Know About The Payroll Tax Deferral Guidance

Following President Trump’s Aug. 8 presidential memorandum directing the Treasury Secretary to defer the withholding and payment of certain employee payroll taxes, the Internal Revenue Service released Notice 2020-65 on Aug....more

Perkins Coie

Summary Of Notice 2020-65: Deferral Of Employee’s Portion Of Social Security Taxes

Perkins Coie on

In response to the ongoing coronavirus (COVID-19) pandemic, the U.S. Congress, the executive branch, and the Internal Revenue Service (IRS) have taken several actions intended to provide immediate relief to taxpayers. In...more

Snell & Wilmer

Payroll Tax Deferral – What The Treasury Guidance Did And Did Not Make Clear

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To assist employees with the economic hardships resulting from COVID-19, recent guidance provides relief in the form of a payroll tax deferral (Deferral Program). Internal Revenue Service Notice 2020-65 (Notice)1 provides...more

Parker Poe Adams & Bernstein LLP

Payroll Tax Deferral Option Confuses Employers

Following unsuccessful congressional attempts to extend COVID-19 pandemic relief measures, President Donald Trump signed a memorandum that allows employers to defer the employee portion of federal payroll taxes for the...more

Lathrop GPM

Update – More Payroll Tax Deferrals? Weighing the Risks and Benefits of Employers’ Options in Light of the President’s Executive...

Lathrop GPM on

On August 8, 2020, President Donald J. Trump issued a “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster” (the “Executive Order”) directing the Treasury Secretary to defer employer...more

White and Williams LLP

Recent Guidance on Employee Payroll Tax Deferral: Implementation Steps and Employer Discretion

The Internal Revenue Service (IRS) recently issued Notice 2020-65 (Notice), which provides guidance regarding the employee payroll tax deferral that was announced by the White House on the August 8, 2020 (Executive Order)....more

Neal, Gerber & Eisenberg LLP

IRS Issues Guidance on Payroll Tax Deferral Program, Leaving Many Questions Unanswered

On August 28, 2020, the IRS issued Notice 2020-65 (“Notice”) to provide guidance concerning the Executive Order that President Trump issued on August 8, 2020 (“Executive Order”). Per the Notice, the Secretary of the Treasury...more

Dentons

Trump's Payroll Tax Deferral - What Should Employers Do?

Dentons on

On August 8, 2020, President Trump issued an Executive Order directing the Secretary of the Treasury Steven Mnuchin to defer the withholding, deposit, and payment of certain payroll taxes beginning September 1, 2020 through...more

Ruder Ware

New Guidance Regarding Deferral of Withholding of Employees’ Social Security Taxes

Ruder Ware on

On August 8, 2020, President Donald Trump issued an executive order titled “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The order directed the Secretary of the Treasury to use...more

Miller Canfield

Treasury Answers Payroll Tax Deferral Questions But Leaves More Unanswered

Miller Canfield on

On Friday, Aug. 28, 2020, the Department of the Treasury released Notice 2020-65 (the "Notice") which provides some long-awaited guidance for the payroll tax deferral announced in the Presidential Memorandum issued by...more

Foster Garvey PC

Potential Payroll Tax Deferral Is Available – Employers Must Understand the Program and Use Extreme Caution Before Blindly Jumping...

Foster Garvey PC on

On August 8, 2020, President Trump issued an executive order, directing the U.S. Treasury to grant employers the ability to defer the withholding, deposit and payment of certain payroll taxes as further COVID-19 tax relief....more

Manatt, Phelps & Phillips, LLP

Guidance on Payroll Tax Deferral

On August 8, 2020, President Trump issued an executive order directing the Secretary of the Treasury to permit employers to defer the withholding and deposit of certain payroll tax obligations. In response, the Treasury...more

Tonkon Torp LLP

Treasury Releases Guidance On Temporary Deferral Of Employee Payroll Taxes

Tonkon Torp LLP on

On Friday, August 28, Treasury released Notice 2020-65, which provides guidance to employers that wish to implement President Trump’s Executive Order allowing a temporary deferral of employee-side Social Security taxes. The...more

Blank Rome LLP

Deferral of Employee Social Security Taxes Not Even a Good Idea on Paper

Blank Rome LLP on

In a Memorandum to the Secretary of the Treasury, President Trump directed that the Secretary use his authority to defer the withholding and payment of the employee’s share of certain Social Security taxes for the period...more

Locke Lord LLP

Initial Thoughts Regarding the IRS’ Employee Payroll Tax Deferral Guidance in IRS Notice 2020-65

Locke Lord LLP on

On August 8, 2020, President Trump issued the Presidential Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster (the “Executive Order”). The Executive Order instructed the Treasury...more

Bradley Arant Boult Cummings LLP

COVID-19 Payroll Tax Notice from the IRS Offers Sparse Guidance

Following the August 8, 2020 Presidential Memorandum directing the Treasury Secretary to defer the withholding, deposit, and payment of certain payroll taxes, the Internal Revenue Service released Notice 2020-65 late Friday,...more

Lewitt Hackman

Executive Order on Deferring Payroll Taxes - Frequently Asked Questions

Lewitt Hackman on

On August 8, 2020, the President issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority to defer withholding, deposit, and payment of certain payroll tax obligations (the “Executive...more

Dorsey & Whitney LLP

President’s Program Permitting Deferral of Employees’ 6.2% Social Security Tax for Four Months Presents Complexity and Risk for...

Dorsey & Whitney LLP on

On August 8, 2020, President Trump signed a Presidential Memorandum entitled “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster,” effective as of September 1, 2020 (the “Memorandum”)....more

Bracewell LLP

IRS Provides Guidance on Presidential Payroll Tax Deferral

Bracewell LLP on

On August 28, 2020, the IRS issued Notice 2020-65 (the “Notice”) to provide guidance with respect to the Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, issued by President Trump to...more

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