Archive for August, 2020

Monday 08/31/2020

Payroll Tax Deferral Considerations

On August 8, 2020, President Trump signed an executive memorandum calling for a payroll tax holiday for Americans making less than $104,000. This results in a deferral of the employee portion of the social security taxes owed between September 1, 2020, and December 31, 2020. On Friday, August 28, the IRS released further guidance. When weighing […]

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IRS Issues: Unprocessed Paper Payments and Tax Refund Interest

COVID-19 has left few things unscathed this year, the IRS included. In March, the IRS temporarily closed offices due to the public health emergency and announced the postponement of the filing deadline from April 15 to July 15. In addition, lawmakers then tasked the agency with distributing millions of stimulus checks at the beginning of April. With […]

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