Postponing Withheld Social Security Taxes – What a Business Owner Needs to Know

BY Admin

The President recently issued an Executive Order (August 8,2O2O) allowing employers to postpone the
normal 6.2% Social Security tax withheld from certain employees’ paychecks paid from September 1,
2020 through December 31,2020. The IRS released Notice 2020-65 (“Notice”) on Friday, August 28,
2020 to explain how the postponement or “deferral” works for employers and employees.

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