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Business groups warn of ‘substantial tax liability’ from payroll tax deferral

from Accounting Today

Business groups warn of ‘substantial tax liability’ from payroll tax deferral Accounting Today The U.S. Chamber of Commerce and over 30 business and trade organizations warned congressional leaders and Treasury Secretary Steven Mnuchin recently that deferring employee payroll taxes through the end of the year would make employees owe a “substantial tax liability” next year. The business groups are urging Congress and the administration to work together on a way to provide tax relief to American families without imposing a big tax bill on them in the future. READ MORE

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