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Employees May Have Little Say in Trump’s Payroll Tax Deferral

BPM’s Andre Shevchuck Discusses in Bloomberg Law 09.01.20

At the end of August 2020, the IRS released guidance to help taxpayers navigate the payroll tax holiday that went into effect September 1, 2020 and will last until the end of the year. While the IRS explained the basics of the payroll tax holiday, many were left with questions about how the deferral may effect employers and employees alike.

BPM’s Specialized Tax Services leader Andre Shevchuck sat down with Bloomberg Law to provide a tax professionals perspective on the topic.

Read the full article on the Bloomberg Law website.

About Andre Shevchuck

Andre is a Partner in BPM’s Specialized Tax Services Practice. As a leader of BPM’s Research and Development (“R&D”) Tax Credit Consulting practice, Andre helps his clients to identify, document, and defend their R&D tax credit claims.

With over 15 years of public accounting experience, including 12 years with PwC’s National R&D practice, Andre has served clients in a wide range of industries including software development/SaaS, life science, product development/consumer products, semi-conductor, aerospace and defense, automotive, FinTech, manufacturing, medical device technology, food processing, winemaking, mining and contract engineering.

About BPM’s Specialized Tax Services

BPM’s Specialized Tax Services team helps businesses navigate specific tax issues, mainly R&D tax credits. Created in 1981, the Research and Development Tax Credit was proposed to foster innovation within companies and induce economic growth at both the state and national levels. Many companies have not taken advantage of the R&D Tax Credit because of insufficient time and expertise to fully understand the requirement. However, this credit can be very beneficial, as it is designed to mitigate research and development costs for companies that create or improve products or processes.

Contact us today to learn more.