Question

Does 2020 software account for 2020 executive order FICA deferral?

Forum|Forum|5 years ago
December 31, 2020
1 reply
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My employer did not participate in FICA deferral. Trying to confirm that the whole FICA obligation will be included in software so I don’t get a refund for the deferral that I then have to pay back.

TurboTax Self Employed Online

N

NCPERSON1

if your employer did not participate in the FICA deferral, that means it was taken out of your paycheck as normal. there is no impact on your tax return

The FICA deferral has no impact on income taxes, even if the employer participated; it would be up to the employer to withhold it from paychecks during 2021.