Update On August 28, 2020, the Internal Revenue Service released Notice 2020-65 to provide guidance for employers who decide to participate in deferral of withholding and deposit of the 6.2 percent employee portion of Social Security Tax under President Trump’s Memorandum dated August 8, 2020. Notice 2020-65 confirms that participating employers will be required to … Continue reading President Trump’s Memorandum on Deferring Payroll Tax Obligations