Postal Service Elects Not To Implement Payroll Tax Deferral
The Postal Service has chosen not to participate in the Payroll Tax Deferral for its approximately 500,000 employees. The payroll taxes collected by the USPS from September 1st to December 31st, 2020 would of been suspended, but would be due in 2021. The Postal Service noted the negative impact this action would have on both the employees and the organization, because employees would still have to pay the tax, and would have been an added burden on top of what is owed in 2021. There has been talk of those monies being forgiven, but no guarantees have been made thus far.