Trump’s ‘Tax Holiday’ Faces Confusing Start Due to Lack of Guidance

With questions unanswered ahead of Sept. 1 start date, attorneys tell clients: ‘Wait and see’

It has been nearly three weeks since President Donald Trump issued a presidential memorandum allowing the deferral of certain payroll tax obligations. Since then, few new details have emerged about how the so-called “tax holiday” will work.  As of press time, employers are still waiting for guidance from the Treasury Department on implementation, making it all but impossible for companies to start offering employees slightly bigger paychecks on Sept. 1, the deferral’s effective date.  Here’s what we do know: The deferral only applies to the 6.2% of each paycheck employees pay towar

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