NEW YORK - The IRS issued long-awaited guidance on President Trump's payroll tax deferral last week, just four days before the executive measure is set to take effect, putting the onus of the financial break on employers.Companies can stop withholding employees' payroll taxes beginning Sept.
1, but workers are still on the hook to pay the taxes by the end of April 2021. It only applies to individuals earning less than $104,000 annually, or no more than $2,000 per week.The rules came about three weeks after Trump signed an executive action on Aug.
8 giving workers temporary tax holiday -- a move that he said would help households weather the coronavirus-induced economic recession.Critics, including Democrats and some Republicans, have argued.