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What is the Trump Payroll Tax Deferral and Who is Eligible?

Sep 12, 2020 6:50:57 AM / by Matt Crisafulli posted in IRS, Taxes, payroll

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On August 8, 2020, President Trump signed a presidential memorandum, allowing employers to defer deducting payroll taxes from employee paychecks from September 1, 2020 through December 31, 2020. The memorandum offered little guidance beyond the fact that it is only eligible for employees making less than $4,000 per bi-weekly pay period, or the equivalent amount for different pay schedules. 

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