Delayed payment of employer share of social security tax. The Cares Act allows employers to defer payment of the employer share of the social security tax it would otherwise be responsible for paying in 2020, effective for payments due after March 27, 2020. Making use of the deferral may help you to conserve cash flow in the near term. If PPP loan forgiveness occurs, the ability to defer ceases.
Fifty percent of the deferred payroll taxes are due on December 31, 2021, and the remaining amounts are due on December 31, 2022.