Mnuchin Says Employers Can Not Be ‘Forced’ to Withhold Payroll Taxes
Treasury Secretary Steve Mnuchin said today that the Internal Revenue Service (IRS) cannot “force” employers to stop withholding payroll taxes from their employees’ paychecks after President Trump signed a memorandum delaying the due date for the taxes.
During an interview this morning with Fox News, Mnuchin said that while the IRS will not mandate that employers withhold payroll taxes, he believes many small businesses will want to pass the benefit along to their employees. He added that he wants the IRS and Treasury to provide guidance to create a level of certainty for companies that choose to pass the deferral along to their employees.
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