Delay of payment of employer payroll taxes: Taxpayers (including self-employed) will be able to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments, one at the end of 2021, the other at the end of 2022. Taxes that can be deferred include the 6.2% employer portion of the Social Security payroll tax and the employer and employee representative portion of Railroad Retirement taxes. The relief isn’t available if the taxpayer has had debt forgiveness under the CARES Act for certain loans under the Small Business Act as modified by the CARES Act. For self-employed, the deferral applies to 50% of the Self-Employment Contributions Act tax liability (including any related estimated tax liability).
Department of Workforce Development Work-Share Program: Instead of laying off workers, a qualified employer can plan to reduce work hours across a work unit. Workers whose hours are uniformly reduced under an approved Work-Share plan receive unemployment benefits that are pro-rated for the partial work reduction. For more information and program requirements please visit the DWD’s website: DWD Work-Share Program
