If your company deferred taxes through Gusto during 2020:
What is the due date for repayment?
The deferred deposits of the employer's share of Social Security tax must be deposited by the following dates (referred to as the "applicable dates") to be treated as timely, and therefore avoid a failure to deposit penalty:
If an employer pays any amount before the applicable dates, however, that amount is first applied to reduce the employer's liability for the amount due on December 31, 2021, then to the amount due on December 31, 2022.
How to repay deferred taxes
For the portion of deferred taxes that were required to be repaid in 2021, the IRS sent reminder notices to companies in October of 2021. Employers who have yet to repay the full amount of deferred taxes owed will get additional reminder notices from the IRS beginning September 2022.
To repay the taxes:
For more information, visit EFTPS.gov, or call (800) 555-4477 or (800) 733-4829 (TDD).
Notice due date explanation
To determine the amount of tax due for the period, each return period is treated separately. This means Form 941 filers that deferred in all four quarters of 2020 may receive four reminder notices stating the deferred amounts that are due on the applicable dates in 2021 and 2022, even though the amounts for all four quarters will have the same due dates of December 31, 2021 and December 31, 2022.
Can I check how much was deferred in 2020?
Review your deferred totals by following these steps:
You can also review how much was deferred in 2020 by downloading form 941 in Gusto:
Can I repay before the due date?
You can—employers can pay the amount they owe electronically using EFTPS (preferred method), by credit or debit card, or by a check or money order.
The EFTPS system has a new option for deferral payments—use the guidance below and the IRS instructions to repay the deferred taxes.
Within the EFTPS portal, select "Deferral payment" and then change the date to the applicable tax period for the payment:
For more information, visit EFTPS.gov, or call (800) 555-4477 or (800) 733-4829 (TDD).
Gusto did not process deferred taxes for employees in 2020. It is the employer's responsibility to repay deferred tax amounts back to the IRS once the deferment period ends, even if they haven’t collected the taxes from their employees.
When is the due date for this payment?
The due date for Applicable Tax repayment was extended from April 30, 2021, to December 31, 2021. Any associated interest, penalties, and additions to tax for late payment (with respect to any unpaid Applicable Taxes) will begin to accrue on January 1, 2022.
For more information, visit the IRS website which includes Frequently Asked Questions for these government programs.
For more information about EFTPS, visit the EFTPS dropdown in this article.