Executive Memorandum - Relief with Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster

Edit: guidance has been issued but my hunch is it will take a month for payroll procesdors to implement. 2 dats is not enough

Until you, I, and all payroll processors see guidance from the IRS on this then nothing changes. Nothing!

Are you aware that if you wrre to fail to withhold and submit timely the e.ployee taxes and the employee refuses or cannot pay this back when due uf deferred that you, tge employer would still be liable for this amount?  Chew on that for awhile.

What you could do if you si desire is to deduct ss normal bit give your employers a cash advance of equal amount. Eventually you might gross up this advance as extra pay, especially if any employees leave prior to when any such deferral may actually happen.

I will not get into politics except that playing willy nilly with the foundation of social security (even to the extent that you can now defer your employer SS essentially until 12/31/21, another screwed up idea)

Until Treasury and more specifically the IRS speaks on this issue (and they have been silent) there is no tax holiday

https://www.irs.gov/newsroom/guidance-issued-to-implement-presidential-memorandum-deferring-certain-...

It says plain az day "allows" and does not require employers to do this. My employees can sue me if they wa t but voluntary means voluntary and i do NOT volunteer.

According to my interpretation of the guidance, if you defer withholding now you, the employer (applicable taxpayer per rules) must double withhold starting 1/1/21 and good luck with that if thd emoyee is gone

You did get political even though you said you didn't want to... the memorandum is to HELP people.  Please keep your political opinion to yourself