The executive order allowing employees to defer their OASDI (SSS) taxes was effective on Sept. 1. Employers are not required to offer this; it is optional.
We recommend that employers NOT opt in right now. Employees likely won’t understand that they will have to repay these taxes in Q1 2021. There is also not a good plan in the rules for how to recover these taxes if an employee leaves your company before they are fully repaid.
If the ruling changes to a waiver of the taxes, you can make it an option at that time. Until then, carry on as usual.
– Molly Eyerman, Founder + CEO, VIVO Growth Partners