President Donald Trump issued a payroll tax holiday through an executive memorandum, that began on September 1, 2020.
There has been a lot of confusion surrounding this move and many taxpayers and accountants alike are stumped. The article linked below written by Zack Friedman, Contributor for Forbes, breaks down how the payroll tax cuts work, who it impacts and what it means for the remainder of 2020 and into 2021.
You can read this Forbes article here.
