Have you heard the recent good news? The IRS extended the opportunity to defer capital gains. Individuals can now defer both short- and long-term capital gains into Qualified Opportunity Zone Funds (QOFs). This is a part of the tax reform put into place a couple of years ago. The best thing about this is that …
Deferral Period
Employers Can Defer Payroll Taxes
One of the benefits included in the COVID-19 epidemic stimulus package is the ability for an employer to defer payment of the employer’s share of certain federal payroll taxes. The deferral applies to the employer’s 6.2% share of the Social Security (OASDI) payroll tax. The deferral does not apply to the employer’s 1.45% share of …
