Only for employees making less than$4000 bi-weekly. ($104,000 per year)
Effective from September 1, 2020, through December 31, 2020
The order does not clearly say if the deferral is optional or mandatory. We have to wait for guidance to be written by the Secretary of the Treasury before we will know for certain how this must be handled by employers.
There may be legal action arguing that this order is beyond the scope of the President’s authority.
Without action by Congress to forgive the deferred taxes, these payroll taxes will still be owed – but not until 2021.
PIA of Wisconsin will keep you informed of developments so that you know what to do with your payroll period starting September 1, 2020.