Important Upcoming Deadline for Deferred Payroll Tax

The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act allowed for the deferral of the employer portion of the Social Security tax incurred between March 27-Dec. 31, 2020. OMA Connections Partner RSM has published this update to remind employers that participated in this program they must pay 50% of their deferred payroll tax liability by Jan. 3, 2022, and the remainder by Jan. 3, 2023. 12/14/2021