From Investopedia.com…..
On August 8, 2020, President Trump signed the Executive Order, Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster. This executive order allows employers to defer the employee portion of Social Security payroll taxes for certain individuals in the final four months of 2020. On August 28, 2020, the Internal Revenue Service (IRS) issued Notice 2020-65, which provides additional guidance for employers on the implementation of the executive order.1
