REPAYMENT OF DEFERRED SS TAX

[Lee B]

This applies to both deferred employee and employer deferred social security:

"Employers can make the deferral payments through the Electronic Federal Tax Payment System (EFTPS) or by credit card or debit card, money order or with a check. These payments must be separate from other tax payments to ensure they are applied to the deferred payroll tax balance. IRS systems won't recognize the payment if it is with other tax payments or sent as a deposit.

EFTPS will soon have a new option to select deferral payment.

The employer selects deferral payment and then changes the date to the applicable tax period for the payment. Employers can visit EFTPS.gov, or call 800-555-4477 or 800-733-4829 for details. If the employee no longer works for the organization, the employer is responsible for repayment of the entire deferred amount. The employer must collect the employee's portion using their own recovery methods."