Wolters Kluwer Tax & Accounting today announced the publication of its latest tax briefing titled "2020 Payroll Tax Deferral Order," which is now available as a complimentary download and can also be accessed through the CCH® AnswerConnect online research platform. The briefing highlights current developments with respect to tax issues in response to the COVID-19 pandemic and expert analysis of the Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster signed by the President of the United States Donald J. Trump on August 8.
"Congressional efforts to enact a fourth phase of COVID-19 related tax legislation have resulted in an impasse. With expanded unemployment benefits set to expire at the end of September, 2020 and the COVID-19 pandemic continuing to worsen in many parts of the country, President Trump has just signed four executive orders in an attempt to provide some interim assistance," said Mark Luscombe, JD, LL.M, CPA, Principal Federal Tax analyst for Wolters Kluwer Tax & Accounting. "While three of the executive orders are not tax-related - addressing enhanced unemployment payments, eviction moratoriums, and student loan relief - the fourth executive order defers payroll taxes from September 1, 2020 to December 31, 2020. The latest tax briefing from Wolters Kluwer helps bring accounting professionals and business and individual taxpayers up-to-date on current tax developments with respect to COVID-19."
Key items in current COVID-19 tax developments include:
The tax briefing from Wolters Kluwer Tax & Accounting dated August 10, 2020 and titled "2020 Payroll Tax Deferral Order" is available for download now. Tax expert Mark Luscombe, JD, LL.M, CPA, Principal Federal Tax Analyst at Wolters Kluwer Tax & Accounting, can help explain the various tax implications of President Trump's action and discuss how Congressional stimulus proposals may affect business and individual taxpayers.
About Wolters Kluwer Tax & Accounting
Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy, and efficiency.
Wolters Kluwer Tax & Accounting is part of Wolters Kluwer (WKL), a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.
Wolters Kluwer reported 2019 annual revenues of ?4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
For more information, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.
These press releases may also interest you
|