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CPA Group Pushes for Clarity on Trump’s Payroll Tax Deferral

Aug. 13, 2020, 2:33 PM

Treasury and the IRS should issue guidance on President Donald Trump’s order delaying collection of some payroll taxes to clear up confusion among accountants and businesses, the American Institute of CPAs said.

The group said one of its biggest remaining questions is whether employees will have the choice to opt in or out of the program. Treasury Secretary Steven Mnuchin has indicated, since the order was released Saturday, that the payroll tax deferral wouldn’t be mandatory for employers to implement, but hasn’t said how much control employees would have over that decision.

  • Trump’s order would defer collection of a ...