Deferral of Employment Taxes Under the CARES Act - Cash Flow Savings

On Friday, April 10th, 2020, the IRS issued additional guidance regarding the deferral of payroll tax available under the CARES Act:


  • Many employers can defer deposit and payment of the their share of social security taxes (6.2%) that would be due from March 27, 2020 (CARES Enactment Date) through December 31, 2020.

  • Deferral available up to the date the employer receives a decision from its lender that its PPP loan is forgiven in whole or in part.

  • After the forgiveness date, employer is no longer eligible to defer additional social security taxes.

  • Any amount that was properly deferred would be due in two equal installments, with half due 12/31/2021, and the other half due 12/31/2022.

For additional information, click the link below to download the PDF.


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