Biz Coalition Asks Congress To Forgive Deferred Payroll Tax
Law360 (August 18, 2020, 4:00 PM EDT) -- Lawmakers should forgive any payroll taxes deferred under President Donald Trump's executive order that allows businesses to suspend withholding until the end of the year, industry groups led by the U.S. Chamber of Commerce said in a letter Tuesday.
Employees could face a substantial tax bill in 2021 if they choose to defer payroll tax obligations under Trump's executive order, and lawmakers should consider forgiving those liabilities as a better way to offer tax relief amid the COVID-19 pandemic, the coalition said in its letter.
The coalition, comprised of various business industry organizations and associations including the Chamber of Commerce, the...
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