Earlier this year, many low-income taxpayers were elated to learn about the possibility that tipped wages could receive federal income tax relief under the No Tax On Tips Act. Under President Trump’s “One, Big Beautiful...more
It’s wonderful to be part of a successful business, especially in a strong economy. The owners are probably enjoying a more than just decent return on their investment and, in most cases, are getting along well enough. The...more
On November 12, 2020, the Federal Executive filed before the Chamber of Deputies of the Congress of the Union the “Initiative of the Federal Executive that reforms, adds and derogates various provisions of the Federal Labor...more
Below is a broad overview of policies for which President-Elect Biden has indicated support (PDF). It is important to note that, while some of these policies fall under the President's executive power, many will require...more
Offering eligible workers the option to suspend the employee share of Social Security payroll taxes through year-end may sound good at the moment, but concerns about next year are leaving many employers wary. Indeed, the Wall...more
On August 8, 2020, President Donald J. Trump issued a “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster” (the “Executive Order”) directing the Treasury Secretary to defer employer...more
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
The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation. High unemployment rates mean Social Security...more
In Washington - With no deal between Democrats and the Trump Administration in sight, It’s appearing more likely that Congress might package additional coronavirus relief with the 12 must-pass appropriations bills before...more
On August 28, 2020, the Internal Revenue Service issued Notice 2020-65 in response to President Trump's memorandum directing the Department of Treasury to defer certain payroll tax obligations through December 31, 2020. ...more
Navigating the Minefield of Legal Challenges as Employees Return to Work - Employers face a host of potential legal pitfalls as businesses that were closed in response to the COVID-19 pandemic reopen and new virus hotspots...more
This evening, the Treasury Department and the Internal Revenue Service (IRS) issued guidance (Notice 2020-65) implementing President Trump’s Aug. 8, 2020 presidential memorandum allowing the deferral of withholding, deposit...more
In Washington - Majority Leader Mitch McConnell (R-KY) confirmed during a call with GOP conference and White House officials that the Senate will not reconvene until after Labor Day. During the call, White House chief of...more
This past Friday night the IRS released Notice 2020-65, the much anticipated guidance regarding implementation of the August 8, 2020 presidential memorandum providing for the deferral of the withholding and payment of the...more
Seyfarth Synopsis: On August 28, 2020, the Internal Revenue Service (“IRS”) issued guidance (the “Guidance”) to implement the payroll tax withholding and payment deferral provided for in President Trump’s Presidential...more
On August 28, 2020, the U.S. Department of the Treasury issued guidance for employers with respect to the deferral of the employee portion of certain payroll taxes. This guidance stems from a presidential memorandum issued...more
On August 8, 2020, President Trump issued a Memorandum to the Secretary of the Treasury authorizing the deferral of payroll taxes for certain employees from September 1, 2020 through December 31, 2020. Employers and payroll...more
On August 8, 2020 President Donald Trump issued four different executive actions in response to the breakdown in negotiations with congressional leaders over the next wave of economic stimulus programs designed to aid workers...more
On August 8, 2020, U.S. President Donald Trump signed a series of executive orders regarding the COVID-19 pandemic, which may impact certain employers: Deferral of certain payroll tax obligations for the period from...more
On August 8, 2020, President Trump issued a Memorandum to the Secretary of the Treasury authorizing the deferral of payroll taxes for certain employees from September 1, 2020 through December 31, 2020. This issuance is in the...more
President Trump signed an executive order (the “Order”) on August 8, 2020 that directs Treasury to suspend collection of the employee portion of Social Security (6.2%) for workers who earn less than $4,000 (on a pre-tax...more
On Saturday, Aug. 8, 2020, President Donald Trump signed four executive orders (EO) to defer payroll taxes, set up an assistance program for lost wages to supplement unemployment benefits, extend the federal moratorium on...more
On August 8, 2020, President Trump issued four executive actions–one executive order and three Presidential Memoranda1–aimed at extending various coronavirus relief programs that have already expired, or are set to expire, in...more