Hoffman Quoted in CBS News About Trump’s Payroll Tax Deferment Plan

Partner Carrie Hoffman was quoted in the CBS News article, “President Trump’s payroll tax holiday: Most workers will have to wait for a raise,” about Trump’s plan to allow to businesses to defer employees’ payroll taxes as a way to provide financial aid amid the pandemic. Business receptivity to the plan has been mixed.
 
Hoffman said some of her clients began offering the tax deferral option to employees this week. She has advised her clients to make it clear to their employees that they will be the ones who have to repay the money in early 2021 if they take the deferral now. 

She has also advised clients to require employees who defer the tax to sign a written agreement that would allow their employer to take any deferred taxes out of their final paycheck, should they leave the company before the taxes are fully repaid. In most states, it’s a violation for companies to withhold excess tax without an employee’s approval.