IRS: Tax Tip Deferred Payroll Taxes

The IRS has issued a Tax Tip that provides instructions to employers on how to pay any employee payroll taxes that the employer deferred in 2020 as a result of a 2020 executive action from then-President Trump. The optional deferral applied to employees with less than $4,000 in wages every two weeks, or an equivalent amount for other pay periods, and applied to wages paid beginning on Sept. 1, 2020, and ending on Dec. 31, 2020. Here’s information from the IRS about how employers can make employee deferral payments through the Electronic Federal Tax Payment System: https://bit.ly/3qAlOT3  Call or visit our website for more information!  www.mjscpa.com/