The U.S. IRS recently published guidance on the repayment of deferred payroll taxes.
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What employers need to know about repayment of deferred payroll taxes
To give people a needed temporary financial boost, the Coronavirus, Aid, Relief and Economic Security Act allowed employers to defer payment of the employer's share of Social Security tax. IRS Notice 2020-65 allowed employers to defer withholding and payment of the employee's Social Security taxes on certain wages paid in calenda…