payrollfag here…

For those confused as to the deferred income tax POTUS just gifted us……we are about to get our GROSS paychecks meaning no more 6.2% FICA and no more FED WITHHOLDING

The executive order states:

…defer the withholding, deposit, and payment of the tax imposed by 26 U.S.C. 3101(a)

^^^^^^^^^^This is FICA 6.2% (Social Security & Medicare) here is 26 USC 3101(a):

(a)Old-age, survivors, and disability insurance

In addition to other taxes, there is hereby imposed on the income of every individual a tax equal to 6.2 percent of the wages (as defined in section 3121(a)) received by the individual with respect to employment (as defined in section 3121(b)).

The executive order states: and so much of the tax imposed by 26 U.S.C. 3201 as is attributable to the rate in effect under 26 U.S.C. 3101(a),

^^^^^This is Federal Income withholding

26 U.S. Code § 3201.Rate of tax

https://www.law.cornell.edu/uscode/text/26/3201

https://www.whitehouse.gov/presidential-actions/memorandum-deferring-payroll-tax-obligations-light-ongoing-covid-19-disaster/