IRS Guidance on Deferment of Employee FICA
September 2, 2020 GENERAL UNDERSTANDING What taxes are eligible for deferral under Notice 2020-65? The deferral applies only to an employee’s share of social security tax (6.2%), where the paycheck date is between September 1st, 2020, and December 31st, 2020, and the bi-weekly pay is less than $4,000. Who determines whether the employee portion of …