As currently written it is a deferment, so save the money because they will be coming to collect it later. There is language in the EO saying that they will work on legislation to waive the obligation to pay it, but as it stands now, it’s only a delay in the payment of the payroll tax.
“they will work on legislation to waive the obligation to pay it”
Holding my breath on this one. I will put the money in a shoe box to pay it next year.
Thanks for the clear explanation.
It’s essentially an interest-free loan of the tax amount. I’ll take it.