Payroll taxes

The PPP isn't the only payroll-related way the federal government is responding to the coronavirus pandemic.

Two new refundable credits are aimed at immediately and fully reimbursing employers, dollar-for-dollar, for the cost of providing coronavirus-related leave to their employees.

As you’re gathering documents this tax season and preparing personal tax returns, you may come across clients who have employed domestic help in the past year.

The U.S. Chamber of Commerce called Monday for a three-month cancellation of all payroll taxes paid by employers to address “a sudden and sharp drop in demand” facing businesses due to the coronavirus pandemic.

The president said he would allow individuals and businesses to “defer tax payments without interest or penalties” and he urged Congress to cut payroll taxes.

The president spoke to Republicans at their weekly conference lunch at the Capitol as his administration prepares a package of economic measures to combat the fallout from the coronavirus outbreak.

Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.

The president will seek a payroll tax cut and “very substantial relief” for industries that have been hit by the virus, reversing course on the need for economic stimulus hours after markets posted their worst losses in more than a decade.

Here’s what host families need to know about taxes and payroll.

The new budget; the SALT myth; NATP; and other highlights from our favorite tax bloggers.