Most employers are expected to pass on the IRS’ offer to temporarily delay collecting Social Security taxes. For background, both employers and employees are generally required to pay a Social Security tax at a flat rate of 6.2% (for a total of 12.4%) on all wages. In a separate article from our Corporate and Securities Blog, we discussed how the CARES Act allows employers to delay paying the employer’s portion of Social Security taxes.
Continue Reading To Defer or Not Defer? IRS Issues Guidance Temporarily Delaying the Collection of Social Security Taxes
To Defer or Not Defer? IRS Issues Guidance Temporarily Delaying the Collection of Social Security Taxes
Most employers are expected to pass on the IRS’ offer to temporarily delay collecting Social Security taxes. For background, both employers and employees are generally required to pay a Social Security tax at a flat rate of 6.2% (for a total of 12.4%) on all wages. In a separate article from our Corporate and Securities Blog, we discussed how the CARES Act allows employers to delay paying the employer’s portion of Social Security taxes.
Continue Reading To Defer or Not Defer? IRS Issues Guidance Temporarily Delaying the Collection of Social Security Taxes