The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”)

Delay of Employer Payroll Taxes

The CARES Act postpones the due date for depositing employer payroll taxes, and 50% of self-employment taxes related to Social Security and Railroad Retirement attributable to wages paid in 2020. The deferred amounts would be payable over the next two years–half on December 31, 2021 and half due on December 31, 2022.