Trump’s Payroll Tax Deferral on Hold Without IRS Guidance
- Companies seeking instructions on delayed collection of tax
- Chamber of Commerce says companies unlikely to participate
Donald Trump
Photographer: Kevin Dietsch/UPI/Bloomberg
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The U.S. Treasury Department still has yet to tell companies how to handle President Donald Trump’s order delaying the due date for employee payroll taxes, leaving major employers like Walmart Inc. in the lurch.
It’s been two weeks since Trump issued his directive deferring the deadline to pay worker’s portions of Social Security taxes from Sept. 1 through the end of the year. But employers, who are responsible for submitting those payments to the Internal Revenue Service, are waiting to hear from the agency on how any tax bill would be handled when it comes due later.