Tag: Social Security Tax Deferral

Employers could defer certain employees’ Social Security taxes from September 1, 2020, to December 31, 2020. This applied to employees paid less than $4,000 every two weeks, or an equivalent amount for other pay periods, with each pay period considered separately. The period during which employers must withhold and pay applicable taxes was postponed from April 30, 2021, to December 31, 2021. As a result, any associated interest, penalties, and additions to tax for late payment of any applicable …