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News EssentialsThe Newsroom TopicsIRS Resources | Issue Number: IR-2022-220Inside This IssueIRS reminder: For many employers and self-employed people, deferred Social Security tax payment due Dec. 31 WASHINGTON — The Internal Revenue Service today reminded employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax liability that their second annual installment of the deferred amount is due on Dec. 31, 2022. As part of the COVID relief provided during 2020, employers could choose to put off paying the employer's share of their Social Security tax liability, which is 6.2% of wages. Self-employed individuals could also choose to defer a similar amount of their self-employment tax. Generally, half of that deferral was due on Dec. 31, 2021. The other half is due on Dec. 31, 2022. Earlier this fall, the IRS sent reminder notices to affected employers and self-employed individuals. The agency noted, however, that those affected are still required to make the payment on time, even if they did not receive a notice. How to repay the deferred taxes EFTPS Direct Pay Debit card, credit card or digital wallet Check or money order Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
Wednesday, December 14, 2022
IR-2022-220: IRS reminder: For many employers and self-employed people, deferred Social Security tax payment due Dec. 31
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