The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the deposit and payment of the employer’s share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes. These FAQs address specific issues related to the deferral of deposit and payment of these employment taxes, as well as coordination with the credits for paid leave under sections 7001 and 7003 of the Families First Coronavirus Response Act (FFCRA) and the employee retention credit under section 2301 of the CARES Act. These FAQs will continue to be updated to address additional questions as appropriate.
IR FAQ – Deferral of employment tax deposits and payments through December 31, 2020
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Jeff Cecchini
Jeff is the CEO of Advisoran. He has founded numerous successful businesses in the industries of bookkeeping, tax, payroll processing, software development, and construction. He brings this real world experience to guide his clients to their success. His goal is to help entrepreneurs build healthy businesses that improve their lives.
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