The name of the selected employee displays in the adjacent field.

Enter, or click to select, the end date of the period in which the employee's Social Security withholding was deferred. If this record was generated by the Deferred Social Security Withholding process in the Payroll Toolkits application, this value was based on the Deferral Period End Date specified on the toolkit screen. If you manually update this field, it will not impact the Total Deferred Amount so you must determine if that value must also be updated based on the change to the deferral period end date.

If you'd like to expand the deferral period and recalculate the Total Deferred Amount, you may also run the toolkit for the employee and opt to update the total deferred amount and the deferral period end date.

Enter, or click to select, the start date of the period in which the employee's deferred Social Security withholding will be paid/recouped. If this record was generated by the Deferred Social Security Withholding process in the Payroll Toolkits application, this value was based on the Payment Period Start Date specified on the toolkit screen.

Since the data displayed in the Deferred Social Security Payment History table is based on the payment period dates, If you manually update this field, the contents of that table will automatically be updated.

If you would like to mass update the payment period dates for multiple employees, you may use the Deferred Social Security Withholding process in the Payroll Toolkits application and opt to update the payment period.

Enter, or click to select, the end date of the period in which the employee's deferred Social Security withholding will be paid/recouped. If this record was generated by the Deferred Social Security Withholding process in the Payroll Toolkits application, this value was based on the Payment Period End Date specified on the toolkit screen.

Since the data displayed in the Deferred Social Security Payment History table is based on the payment period dates, If you manually update this field, the contents of that table will automatically be updated.

If you would like to mass update the payment period dates for multiple employees, you may use the Deferred Social Security Withholding process in the Payroll Toolkits application and opt to update the payment period.

From the drop-down list select whether the employee or employer is responsible for paying the deferred Social Security. The Create Payroll Records to Repay Social Security toolkit will use this setting to determine whether the employee or the employer is responsible for the deferred Social Security withholding payments.

If you change this setting, any further payments against the employee's deferred withholding amount will be based on it. For example, if at some point, the employer decides to pay the deferred withholding, you should change the value to Employer and save the record. Changing this setting will not change the responsible party for any checks that have already been computed in payroll.

On August 8, 2020, a presidential memorandum was signed which allowed employers to defer the employee portion of Social Security withholding tax from September 1, 2020 to December 31, 2020.

The deferral provisions pertaining to the employee portion of Social Security tax only applied to compensation paid to employees whose biweekly pretax compensation was generally less than $4,000.

According to the IRS, an Affected Taxpayer must withhold and pay the total Applicable Taxes that the Affected Taxpayer deferred under this notice ratably from wages and compensation paid between January 1, 2021 and April 30, 2021 or interest, penalties, and additions to tax will begin to accrue on May 1, 2021, with respect to any unpaid Applicable Taxes. If necessary, the Affected Taxpayer may make arrangements to otherwise collect the total Applicable Taxes from the employee.

The IRS released reporting requirements in late February 2021.

"You may pay the amount you owe electronically using the Electronic Federal Tax Payment System (EFTPS), by credit or debit card, or by a check or money order. The preferred method of payment is EFTPS. For more information, go to EFTPS.gov, or call 800- 555-4477 or 800-733-4829 (TDD). To pay the deferred amount using EFTPS, select Form 941, the calendar quarter in 2020 to which the payment relates, and the option for payment due on an IRS notice.

To pay by credit or debit card, go to IRS.gov/PayByCard. If you pay by check or money order, include a 2020 Form 941-V, Payment Voucher, for the quarter in which you originally deferred the deposit and payment. Darken the circle identifying the quarter for which the payment is being made. The 2020 Form 941-V is on page 5 of Form 941 and is available at IRS.gov/Form941 (select the link for "All Form 941 Revisions" under "Other Items You May Find Useful"). Make the check or money order payable to "United States Treasury." Enter your EIN, "Form 941," and the calendar quarter in which you originally deferred the deposit and payment (for example, "2nd Quarter 2020").

Payments should be sent to: Department of the Treasury Department of the Treasury Internal Revenue Service or Internal Revenue Service Ogden, UT 84201-0030 Kansas City, MO 64999-0030"

Enter the Social Security withholding amount deferred for the employee in Q3 2020. You may manually enter the amount or you can automatically populate this field using the Update Q3/Q4/Total Deferred Amounts and Deferral Period End Date option on the Create Deferred Tax Payment Records application.

This field displays the amount that the employee has paid during the payment period to recoup the deferred Social Security withholding. This amount is a sum of the employee's Social Security Additional Withholding amounts from the employee's Manage Employee Earnings History records with check dates between the Payment Period Start Date and Payment Period End Date.

This value is not stored. It will be automatically calculated when an existing record is queried or when the Employee, Payment Period Start Date, or Payment Period End Date are edited.

This field displays the amount that the employer has paid during the payment period to recoup the deferred Social Security withholding. This amount is a sum of the employer’s Social Security Additional Accrual amounts from the employee’s Manage Employee Earnings History records with check dates between the Payment Period Start Date and Payment Period End Date.

This value is not stored. It will be automatically calculated when an existing record is queried or when the Employee, Payment Period Start Date, or Payment Period End Date are edited.

This field displays the total amount paid during the payment period to recoup the deferred Social Security withholding. This amount is a sum of the Amount Paid by Employee and Amount Paid by Employer amounts.

This value is not stored. It will be automatically calculated when an existing record is queried or when the Employee, Payment Period Start Date, or Payment Period End Date are edited.

This field displays the remaining amount of deferred Social Security withholding owed by the employee. This amount is the difference between the Total Deferred Amount and the Total Amount Paid.

This value is not stored. It will be automatically calculated when an existing record is queried or when the Employee, Payment Period Start Date, or Payment Period End Date are edited.

This field displays the number of paychecks remaining in the payment period. This value will be used to calculate the Estimated Payment per Check, which is the result of dividing the Balance Due by the number of remaining checks.

This amount is only based on one check per pay period. If you have multiple checks in a pay period for bonus or adjustment payments, this estimated payment will not consider those checks.

If the employee would like to pay a specific amount in the upcoming checks, you should select this checkbox and enter the amount in the Override Amount per Check field. This field can be used if the employee would like to pay more or less than the calculated amount.

If you change this setting, any further payments against the employee's deferred withholding amount will be based on it. Changing this setting will not change the payment amount for any checks that have already been computed in payroll.

If the employee would like to pay a specific amount in the upcoming checks, enter the override amount in this field. This field can be used if the employee would like to pay more or less than the calculated amount.

If you change this setting, any further payments against the employee's deferred withholding amount will be based on it. Changing this setting will not change the payment amount for any checks that have already been computed in payroll.