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Part of the Coronavirus Aid, Relief and Economic Security (CARES) Act allowed employers to defer payment of their share of payroll taxes required between March 27 and December 31, 2020. Those deferred payroll taxes are paid back in two installments – the first due December 31, 2021 and the remaining by December 31, 2022. Also,…

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Payroll Tax Problems and TFRP Payroll taxes refer to income taxes withheld from employees’ income, including Social Security and Medicare taxes. All employers are legally required to withhold payroll taxes from the paychecks of their employees and remit the withheld funds to the IRS. When employers, knowingly or unknowingly, fail to withhold payroll taxes, or…

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