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Podcast: Journal of Accountancy Podcast
Episode: Implementing the payroll tax deferral, part 2
Description: This podcast episode follows up one posted on Aug. 20 about President Donald Trump's memorandum directing Treasury to defer the withholding, deposit, and payment of workers' 6.2% Social Security or Railroad Retirement tax for the last four months of 2020. Since then, Treasury and the IRS have issued much-anticipated guidance on just how the deferral applies and how the taxes are likely to have to be repaid. Ed Karl, the AICPA's vice president–Tax Policy & Advocacy, described the memorandum in the first podcast episode. Now he returns to describe what the guidance in Notice 2020-65 provides — and what it still leaves unclear. He h...