July 23, 2020
How do I go about getting the payroll tax deferral?
Posted by Armanino Financial Advisory Team
If you use a payroll service, you’ll need to notify them of your election to defer so they can make the adjustment. If you do payroll on your own, you’ll book the liability as you always do, but you won’t pay it. You’ll let the liability accrue on your balance sheet through December 31, 2020. No election needs to be filed with the government.