Topics: payroll taxes

IRS Issues Guidance for Payroll Tax Deferral

The Internal Revenue Service (IRS) issued guidance implementing the President's executive order allowing employers to defer withholding and payment of the employee's portion of the Social Security tax if the employee's wages are below a certain amount. More

NATSO Policy Update: President Signs Executive Orders as Stimulus Talks Hit Impasse

President Trump signed a memorandum directing the Treasury Department to defer payroll taxes from September 1 through the end of the year for those earning under $4,000 (pre-tax) during any bi-weekly pay period (or $96,000/year). Other executive actions, which come amid an impasse on agreeing to additional coronavirus relief between the Administration and congressional Democratic leaders, include allowing a $400 federal unemployment benefit add-on; providing assistance to renters and homeowners regarding evictions; and suspending student loan payments. More

NATSO Analysis: The Cares Act, Phase III Stimulus Package Members Only Join or Login

The Senate approved 96-0 the approximately $2 trillion "Phase III" stimulus bill known as the CARES Act. The House is expected to pass the bill by today after which the President is expected to sign the measure. This summary focuses on those issues of most concern to the travel center industry.  More

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