President Trump’s Payroll Tax Deferral Effective September 1, 2020
By: Thomas Alvarez President Trump’s Executive Memorandum signed August 8, 2020 deferring the employee portion of social security taxes, for those employees earning wages less than $4,000 during a biweekly pay period (less than approximately $104,000 annually), went into effect September 1, 2020 and sunsets December 31, 2020. Specifically, the Memorandum directs the Department of…