Treasury Department

Treasury and IRS Issue Guidance on Deferred Payroll Taxes

 

On August 28, the U.S. Treasury Department and the IRS issued guidance to employers regarding the executive action taken earlier this month to defer certain employee payroll taxes through the end of the year. The guidance allows employers to defer payment through the end of 2020 of the employee’s portion of Social Security payroll tax for employee’s earning monthly pre-tax wages of $4,000 or less. Release.

Treasury Extends Comment Period on Marketplace Lenders RFI

On August 18, the Treasury Department extended the comment period for responding to the Request for Information (RFI) on marketplace lending titled “Public Input on Expanding Access to Credit through Online Marketplace Lending” by 30 days. The comment period will now end on September 30, 2015.  Treasury Note.