Proposed Payroll Tax Holiday 2020 | An Accounting Dilemma
There have been recent reports in the news concerning an executive order establishing a “payroll tax holiday” beginning September 1. Although we have seen very little in the way of details on the proposal it appears that it would take the form of a “deferral” of social security and possibly Medicare withholdings from an employee’s paycheck. It appears that this decision is voluntary for the employer.
