Marc Gerson Quoted on Trump Order on Payroll Tax in Bloomberg Government
"Employers Face Payroll Tax Dilemma After Trump Delays Due Date"
Former majority tax counsel to the U.S. House of Representatives Committee on Ways and Means Marc Gerson was quoted on President Trump's executive order to delay collection of payroll taxes through the end of the year. Without Congressional action to permanently forgive the 'ax debts, taxpayers will still owe the deferred amount. "It's not a tax cut, it’s not a rebate, but you will have folks who will view it as a tax cut," Gerson said. "It will almost be a surprise to them at the end of the year, and that is something that could force congressional action to extinguish the debt."