Columbus Partner Comments on What “Tax Holiday” Might Mean for Employers
The President issued a memorandum allowing the deferral of certain payroll tax obligations, but since the announcement there has been very little detail about how the so-called “tax holiday” will actually work. As employers await guidance from the Treasury Department, Bob Robenalt told Law Week Colorado that the “most troubling” issue is that employers might be obligated to pay the employee’s portion of the Social Security tax when/if it eventually comes due. Bob explains how Treasury might end up dealing with this, but at this point he is advising employers to “hold off and wait and see what happens in how the administration chooses to guide on this topic.”
To read the article, visit Law Week Colorado.