IRS releases FAQs on deferral of deposit and payment of employment taxes
The Internal Revenue Service today released FAQs related to the deferral of deposit and payment related to certain employment taxes as authorized by the Coronavirus, Aid, Relief and Economic Security Act. The legislation allows employers to defer the deposit and payment of the employer's share of social security taxes and self-employed individuals to defer payment of certain self-employment taxes. IRS said the FAQs will be updated to address additional questions as they arise.
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