Financial Services - Payroll

The Department of Treasury and Internal Revenue Service has presented guidance (Notice 2020-65) on the Presidential Memorandum issued on August 8, 2020, allowing employers to defer withholding and payment of the employee's portion of the Social Security tax if the employee's wages are below a certain amount. An evaluation of this guidance has determined that participation only defers, or postpones, employee tax for the period of September 1, 2020, and ending December 31, 2020; therefore, creating a double tax burden to the employee beginning January 1, 2021, and ending April 30, 2021. Henry County Schools will not participate in the payroll tax deferral option. Thanks



Be sure to clear your browser's cache to keep notifications up to date.