On Friday March 27, 2020, the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748) or “CARES Act,” allowing for, among other things, a deferral by employers of the deposit and payment of the employer's share of social security taxes through December 31, 2020.
On Friday April 10, 2020, the IRS posted on its website FAQs to address specific issues related to the deferral of deposit and payment of these employment taxes. The IRS FAQs are available at this link.
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