The CARES Act provides for the delay of payment of Employer Social Security tax incurred between March 27, 2020 and December 31, 2020. Read the Act’s full text.
50% of the deferred tax payments are due on December 31, 2021 and 50% is due on December 31, 2022.
If you elect to defer payment of your employer social security tax per the condition of the CARES Act, contact us now to get started.