Payroll tax deferral now expanded for recipients of PPP loan.
- Yechiel Roth CPA, CFP, PFS
- Jun 5, 2020
- 1 min read
An additional feature of the new legislation is that recipients of the PPP loan are now eligible for Employer Social Security Tax Deferral, even after the payroll forgiveness.
In essence the employer can use the 6.2% Employer Social Security Tax from 03/27/2020-12/31/2020, like a loan and repay 50% by 12/31/2021 and 50% by 12/31/2022.
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