Can I defer social security taxes for Quarter 1 of 2021?
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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 |
|
|
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 |