Payroll taxes

The Internal Revenue Service has released a draft version of the Form 1040 for tax year 2020 with several significant changes probably in store for next tax season.

The Democratic presidential nominee Joe Biden expressed optimism and hope about overcoming the economic crisis and other challenges during his acceptance speech at the virtual Democratic National Convention.

The U.S. Chamber of Commerce and other organizations are sounding the alarm about the impact of President Trump’s order.

Delaying tax payments is one thing; forgiving them is another thing entirely.

White House officials said the administration has no plans to do away with the payroll tax despite President Donald Trump saying he would seek a permanent repeal if he wins another term.

The American Institute of CPAs has sent a letter to top officials asking for more guidance on the president's executive order.

Payroll companies need guidelines on how to implement President Trump's executive order before they can start processing paychecks next month.

President Donald Trump’s order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS.

President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up over-promising and under-delivering on his pledge to slash IRS bills.

The moves were criticized by Democrats and some Republicans as, variously, providing little real help, an unconstitutional power grab from Congress, and a backhanded way to defund Social Security and Medicare.