Posts tagged Social Security Tax.

In March, Congress passed the Coronavirus, Aid, Relief and Economic Security Act (“CARES Act”) to aid businesses and individuals.  One CARES Act relief provision offered the deferral of certain payroll taxes.  In particular, Section 2302 provides that employers may defer the deposit and payment of the employer’s portion of the Social Security taxes arising between March 27, 2020, and December 31, 2020 (the “Employer Deferral”).  Any deferred taxes are repaid over the following 2-year period.  The CARES Act failed to offer similar deferrals for the employee portion of ...

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