The plan, which runs Sept. 1 through Dec. 31, is designed to give workers temporary assistance amid pandemic-induced financial hardships. Salaried employees making less than $104,000 per year or whose wages are less than $4,000 per biweekly pay period are eligible for the suspension.
Dental practices that suspend collection of employees’ Social Security withholdings must repay the deferred taxes to the IRS during the first four months of 2021. Practices should ensure employees are aware the deferred taxes will be collected then, making for smaller paychecks during those four months.
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