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Employers Can Defer Payroll Taxes UNTIL PPP Loan Is Forgiven

Under the CARES Act, employers of all sizes can defer the remittance of the employer’s Social Security tax due between March 27 and December 31, 2020. Instead of remitting this tax along with other payroll taxes when normally due, employers can remit half of their Social Security tax by December 31, 2021, and the other half by December 31, 2022. Note that this does not apply to the employer’s Medicare tax or to any federal taxes withheld from employees... READ MORE

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