Tax Holiday or Headache? Deferral Plan Presenting Challenges for Employers

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President Donald Trump’s plan to defer payroll taxes for many employees through the end of the year is sparking questions and criticism from employers—questions about how to implement the plan and criticism that the “tax holiday” may hurt more than it helps.

Source: Doucefleur / iStock / Getty Images

On August 8, Trump issued a memorandum providing for the deferral of payroll taxes for employees making less than $4,000 before taxes in any 2-week payroll period during the deferral period, which goes from September 1 through December 31, 2020. The intent is to provide financial relief during the

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