What employers need to know about repayment of deferred payroll taxes

COVID Tax Tip - What employers need to know about repayment of deferred payroll taxes  https://www.irs.gov/newsroom/what-emp ​To give people a needed temporary financial boost, the Coronavirus, Aid, Relief and Economic Security Act allowed employers to defer payment of the employer's share of Social Security tax. IRS Notice 2020-65 PDF allowed employers to defer withholding and payment of the employee's Social Security taxes on certain wages paid in calendar year 2020. Employers must pay back these deferred taxes by their applicable dates.