President Trump Issues Presidential Memorandum Authorizing Payroll Tax Deferral

e The payroll tax deferral generally applies to employees earning less than $4,000 every two weeks. The tax payments are deferred without any penalties, interest, additional amount, or addition to the tax. Although the Presidential Memorandum instructs the Treasury Secretary to utilize his authority to defer certain payroll tax obligations, we are currently awaiting guidance and comments from the Treasury Secretary on the extent to which Treasury will actually implement the deferral set forth in the Presidential Memorandum.

Please contact a Kerr Russell attorney today for more information on the Presidential Memorandum.

John D. Gatti is a Certified Public Accountant as well as an attorney. He concentrates his practice in the areas of taxation, mergers and acquisitions, business law, real estate law, and estate planning. John also serves as the firm’s administrative partner and chairs the firm’s Taxation Practice Group. He has considerable experience representing professional services firms. These include accounting, engineering, and architectural firms, as well as insurance agencies, in purchase and sale transactions.

Mark C. Knoth chairs the firm’s Labor, Employment, Employee Benefits & ERISA Practice Group. He counsels and advises business owners, managers and human resources professionals on workplace issues. These include civil rights and anti-discrimination laws; employee discipline; wage and hour; overtime; employee leaves; reasonable accommodations; veterans issues; picketing; secondary boycotts; reductions in force; drug testing; unemployment compensation; affirmative action; and union organizing campaigns, among other matters. He additionally drafts employee policies, handbooks, contracts, and covenants not to compete, and investigates threats of violence, allegations of harassment, and other employee misconduct.

Cody Attisha focuses on taxation law, corporate law, mergers and acquisitions, finance, and estate and trust planning. He also helps clients with entity formation, including evaluating, choosing, and implementing the right partnership, corporate, or non-profit structure.

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