Posted 7:41 a.m. Tuesday, Sept. 1, 2020
Employers to stop collecting Social Security tax.
Background:
Several weeks ago, a presidential executive order (Notice 2020-65) was signed that would have allowed employers to stop collecting Social Security tax from Sept 1, 2020 through December 31, 2020 for some employees. This was a four month deferral, not a tax forgiveness. Employers would be responsible for collecting the deferred taxes by April 30, 2021 (including employees who terminated) or face penalties and interest.
Final Decision:
UW System Administration has determined we will not be deferring for any employees. Employees will continue to see their normal Social Security tax withholding each pay period.
