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Recordkeeping Requirements Internal Revenue Service Payroll Taxes

Whiteford

Employment Law Update: New Overtime Tax Law Increases Employer Recordkeeping Obligation

Whiteford on

The Administration’s “Big Beautiful Bill” includes a new overtime tax provision, broadly described as “No Tax on Overtime.” More accurately, the Bill allows an employee tax deduction of a portion of overtime payments, up to a...more

Lowenstein Sandler LLP

IRS Issues Guidance To Implement Deferral Of Employee Social Security Taxes Through December 31, 2020

Lowenstein Sandler LLP on

On August 8, President Trump issued a Memorandum directing the Treasury Department to permit employers to defer the withholding of employees’ social security and railroad retirement taxes through December 31, 2020. On August...more

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