• The employer’s portion of social security taxes (6.2% x taxable gross) may be deferred and will be due:
    • 50% by December 31, 2021, and
    • 50% by December 31, 2022
  • The deferral can be applied to social security taxes on wages paid from March 27 – December 31, 2020.
  • Deferral may be used along with a PPP loan.
  • Program is open to all employers regardless of impact of COVID-19 on their business.

Disclaimer:  This is for informational purposes only.  Check with your accountant and/or banker for advice before proceeding with any business decisions related to the information posted here.

2020 Federal

  Banking Holidays

 

Wednesday Jan. 1
Monday Jan. 20
Monday Feb. 17
Monday May 25
Monday Sep. 7
Monday Oct. 12
Wednesday Nov. 11
Thursday Nov. 26
Friday Dec. 25

 

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