The IRS has updated its FAQ on the deferral of employment tax deposits and payments through December 31, 2020[1] to take into account changes made by the Paycheck Protection Program Flexibility Act (PPPFA).

The CARES Act provided that employers were allowed to defer the payment of the employer portion of old age, survivors and disability insurance (the 6.2% FICA tax) for payments due on or after March 27, 2020 and before January 1, 2021. The employer would then pay the tax in two installments, one half due on December 31, 2021 and the other half due on December 31, 2022.