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The Internal Revenue Service Extends the Payment Period for Certain Deferred Employee Payroll Taxes in Accordance with Recently Enacted Legislation | Seyfarth Shaw LLP

Seyfarth Synopsis : On January 19, 2021, the Internal Revenue Service (“IRS”) issued guidance (the “Guidance”) in accordance with the recently enacted COVID-related Tax Relief Act of 2020 (the “Act”) extending the payment period for employee payroll taxes deferred pursuant to the Presidential Memorandum of August 8, 2020 as implemented by the IRS in Notice 2020-65 (the “Previous Notice”) until December 31, 2021. The Guidance does not address any of the outstanding questions we p...
Revenue Service Seyfarth Synopsis Internal Revenue Service Tax Relief Act Presidential Memorandum Previous Notice

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