News & Analysis as of

Internal Revenue Service Trump Administration Tax Relief

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Troutman Pepper Locke

The One Big Beautiful Bill Act: Analysis of Key Provisions for Private Equity Funds and Their Portfolio Companies

Troutman Pepper Locke on

On July 4, 2025, President Donald Trump signed H.R. 1 into law, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Act). As discussed in our prior alert following the passage by the House of...more

Foster Garvey PC

There Is a Santa Claus After All – Lawmakers Deliver a Wonderful Holiday Gift to Businesses and Their Owners in a Time of Need

Foster Garvey PC on

The Consolidated Appropriations Act, 2021 - In a bipartisan effort, H.R. 133-116th Congress: Consolidated Appropriations Act, 2021 (the "Consolidated Appropriations Act, 2021") overwhelmingly passed both the House and the...more

Hinshaw & Culbertson LLP

IRS Issues Guidance on Presidential Memorandum Payroll Tax Deferral Opportunity

President Trump issued a Presidential Memorandum on August 8, 2020, directing the U.S. Secretary of the Treasury to use his authority to defer the "withholding, deposit and payment of certain tax obligations." This includes...more

Morgan Lewis

IRS Notice 2020-65 Provides Guidance on Deferring Employee Social Security Taxes

Morgan Lewis on

The US Department of the Treasury and the Internal Revenue Service have issued guidance with respect to US President Donald Trump’s August 8, 2020 Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing...more

Williams Mullen

IRS Issues Guidance for Payroll Tax Deferral

Williams Mullen on

President Donald Trump issued an Executive Order on August 8, 2020 allowing employers to defer withholding, depositing, and paying certain payroll tax obligations for their employees. On August 28, 2020, the Department of...more

Snell & Wilmer

Payroll Tax Deferral – What The Treasury Guidance Did And Did Not Make Clear

Snell & Wilmer on

To assist employees with the economic hardships resulting from COVID-19, recent guidance provides relief in the form of a payroll tax deferral (Deferral Program). Internal Revenue Service Notice 2020-65 (Notice)1 provides...more

Foster Garvey PC

Potential Payroll Tax Deferral Is Available – Employers Must Understand the Program and Use Extreme Caution Before Blindly Jumping...

Foster Garvey PC on

On August 8, 2020, President Trump issued an executive order, directing the U.S. Treasury to grant employers the ability to defer the withholding, deposit and payment of certain payroll taxes as further COVID-19 tax relief....more

Blank Rome LLP

Deferral of Employee Social Security Taxes Not Even a Good Idea on Paper

Blank Rome LLP on

In a Memorandum to the Secretary of the Treasury, President Trump directed that the Secretary use his authority to defer the withholding and payment of the employee’s share of certain Social Security taxes for the period...more

Bond Schoeneck & King PLLC

IRS Provides Guidance on Payroll Tax Deferral

On August 8, 2020, President Trump issued a Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster (the Memo). The Memo generally provided that employers could defer payment of the...more

Pullman & Comley - Labor, Employment and...

Should Employers Stop Withholding Employees’ Share of Social Security Tax in September? (Part 1)

The title’s question is triggered by a Presidential Memorandum issued on August 8, 2020 (the “Memo”) directing the Secretary of the Treasury to defer Social Security taxes for certain employees....more

Burr & Forman

Employee Payroll Tax Deferral—What Could Go Wrong?

Burr & Forman on

In March, Congress passed the Coronavirus, Aid, Relief and Economic Security Act (“CARES Act”) to aid businesses and individuals. One CARES Act relief provision offered the deferral of certain payroll taxes. In particular,...more

Foster Garvey PC

Treasury Delivers Some More Good News – Notice 2020-20

Foster Garvey PC on

On March 13, 2020, President Trump issued an emergency declaration that, in part, instructed the U.S. Department of the Treasury (“Treasury”) to provide taxpayers with “relief from tax deadlines” due to the impact of the...more

Bracewell LLP

COVID-19 Tax Update: Tax Return Filing and Tax Payment Relief

Bracewell LLP on

Last week, in a pair of notices released under President Trump’s March 13, 2020 Emergency Declaration relating to the coronavirus pandemic, the IRS and the Treasury Department offered relief for tax return filing and tax...more

Foster Garvey PC

Treasury Delivers Some Good News in a Time When Good News Is Rare

Foster Garvey PC on

On March 13, 2020, President Trump issued an emergency declaration, which in part instructed the U.S. Department of the Treasury (“Treasury”) to provide taxpayers with “relief from tax deadlines” due to the impact of the...more

Burr & Forman

The “Taxpayer First Act” Becomes Law

Burr & Forman on

President Trump signed the “Taxpayer First Act”, H.R. 3151, into law on July 1, 2019. The Taxpayer First Act may be one of the most significant “taxpayer rights” laws since the adoption of the Internal Revenue Service...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - June 2019 #2

Well, they did it. Despite lingering resentment between Democrats and Republicans after the passage of the Tax Cuts and Jobs Act (P.L.115-97), Congress was able to pass tax legislation that was overwhelmingly supported by...more

Burr & Forman

Hurricane Florence: Federal and South Carolina Tax Return Filings and Payments

Burr & Forman on

Recognizing the devastating effects of Hurricane Florence, President Trump on September 10, 2018 declared that an emergency exists in the State of South Carolina and ordered federal assistance to be available beginning...more

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