Can I defer social security taxes for Quarter 1 of 2021?
227 views | Last modified 3/17/2021 6:40:03 AM EST

Applicable To
Form 941 Form 1099 / W-2 Form 2290

No, employers will be no longer able to defer the employer or employee share of social security taxes for the 2021 tax year as the social security deferment timeline ended on December 31, 2020. 

To assist this change, the IRS has revised Form 941 for Quarter 1 of 2021. Below are the changes: 

Line

2020 Q4 Form 941

2021 Q1 Form 941

13b Deferred amount of social security Tax Reserved for future use


13e

Total deposits, deferrals, and refundable credits Only total deposits and refundable credits will be reported.
 
13g Total deposits, deferrals, and refundable credits less advances Only total deposits and refundable credits less advances will be reported
 
24 Deferred amount of the employee share of social security tax included on line 13b Reserved for future use

   

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