08/14/2020
My accounting professor from college, who is a CPA, has confirmed that the move is only temporary through December and the taxes will be due at a later time. This impacts the F**A taxes that are withheld from your payroll.
I highly recommend doing your homework on what the F**A tax is and how it impacts you in the future, as well as talking to a qualified, trusted tax professional to avoid headaches that will most likely come for the Social Security Program, workers and employers.
President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers' paychecks. But the move is temporary, and could spark headaches in 2021.