Entries by Alexis Wamser

PAYROLL TAX DEFERRAL PROVIDED BY CARES ACT

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the payment of the employer share of FICA taxes (6.2%) and certain railroad retirement taxes. The amount of the employer share of FICA taxes due for the period beginning on March 27, 2020, and ending December 31. 2020, can be deferred.