26 USC 3201 is the Railroad Retirement tax.
I don't see anything in there about the employer's half or self-employment tax which covers both the employee and employer parts.
Note that these are only deferred. According to the Memo: Sec. 4. Tax Forgiveness. The Secretary of the Treasury shall explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.
So you might end up owing it all on April 15, 2021.
Thanks for the time you took to look the codes up. Why would ANYONE put out anything like that for the general public when they (we) would have no idea what any of it meant? Like I said earlier, I did payroll on my jobs for years and years but never did I need to refer to or know what code covered withholding or FICA.
So the Medicare tax goes forward untouched this time around but FICA does not tho’ it will distort SS earnings?
Any self employed person who pays 100% of the FICA may or may not be included in the change?? The “someone” who wrote the order at the WH needs to lose their job. It did say it came from the WH. They could write that for the Treasury Department but for public consumption, very, very stupid!
I especially love the Railroad Retirement tax. How long has that been in place? How necessary is it today? Of course, we still have trains and someone to run them but why on earth hasn’t it been wrapped in all the other tax codes? I worked for a CPA for 10 years also and never had any client claim that on their tax return!!
Anyway - thanks...