Page 239 - BusinessStructures & Forms

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Fileid: … tions/i943/2022/a/xml/cycle07/source
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
elects coverage. Therefore, due to the COBRA notice and more information about the deferral of employment tax
election period requirements (generally, employers have deposits, go to IRS.gov/ETD. See Paying the deferred
60 days to provide notice and assistance eligible amount of the employer share of social security tax and
individuals have 60 days to elect coverage), January 2022 How to pay the deferred amount of the employer and
was generally the end of the period in which an assistance employee share of social security tax, later, for information
eligible individual would have elected coverage. Under about paying the deferred amount of the employer share
some rare circumstances, it may be possible for a of social security tax.
premium payee to become entitled to the COBRA Deferral of the employee share of social security tax
premium assistance credit after January 2022. In these expired. The Presidential Memorandum on Deferring
rare instances, the credit is still claimed on Form 943 filed Payroll Tax Obligations in Light of the Ongoing COVID‐19
for 2022. For more information about claiming the COBRA Disaster, issued on August 8, 2020, directed the
premium assistance credit, see the instructions for Secretary of the Treasury to defer the withholding,
line 12e, line 12f, and line 14g, later. deposit, and payment of the employee share of social
Use Worksheet 3 to figure the credit for COBRA security tax on wages paid during the period from
premium assistance payments. For more information on September 1, 2020, through December 31, 2020. The
COBRA premium assistance payments and the credit, deferral of the withholding and payment of the employee
see Notice 2021-31, 2021-23 I.R.B. 1173, available at share of social security tax was available for employees
IRS.gov/irb/2021-31_IRB#NOT-2021-31; and Notice whose social security wages paid for a biweekly pay
2021-46, 2021-33 I.R.B. 303, available at IRS.gov/irb/ period were less than $4,000, or the equivalent threshold
2021-33_IRB#NOT-2021-46. amount for other pay periods. The COVID-related Tax
Advance payment of COVID-19 credits ended. Relief Act of 2020 deferred the due date for the
Although you may pay qualified sick and family leave withholding and payment of the employee share of social
wages in 2022 for leave taken after March 31, 2020, and security tax until the period beginning on January 1, 2021,
before October 1, 2021, or provide COBRA premium and ending on December 31, 2021. For more information
assistance payments in 2022, you may no longer request about the deferral of employee social security tax, see
an advance payment of any credit on Form 7200, Notice 2020‐65, 2020‐38 I.R.B. 567, available at
Advance Payment of Employer Credits Due to COVID-19. IRS.gov/irb/2020-38_IRB#NOT-2020-65; and Notice
2021-11, 2021-06 I.R.B. 827, available at IRS.gov/irb/
Notice 2021-65 effect on deposit schedule. If you 2021-06_IRB#NOT-2021-11. Also see Paying the
became a semiweekly schedule depositor for 2022 under deferred amount of the employee share of social security
the $100,000 Next-Day Deposit Rule solely as a result of tax and How to pay the deferred amount of the employer
the relief provided in Notice 2021-65, 2021-51 I.R.B. 880, and employee share of social security tax, later, for
available at IRS.gov/irb/2021-51_IRB#NOT-2021-65, information about paying the deferred amount of the
regarding the early termination of the employee retention employee share of social security tax.
credit for the fourth quarter of 2021, you may be converted
back to a monthly schedule depositor by contacting the Paying the deferred amount of the employer share of
IRS. You may continue to deposit in accordance with your social security tax. One-half of the employer share of
status as a monthly schedule depositor, but you may social security tax was due by December 31, 2021, and
receive a system-generated failure-to-deposit (FTD) the remainder is due by December 31, 2022. Because
penalty notice after you file your Form 943. Contact the both December 31, 2021, and December 31, 2022, are
IRS at the toll-free number on your FTD penalty notice to nonbusiness days, payments made on the next business
request abatement of the FTD penalty and to be day will be considered timely. Any payments or deposits
converted back to a monthly schedule depositor. you made before December 31, 2021, were first applied
against your payment due on December 31, 2021, and
Reminders then applied against your payment due on December 31,

Deferral of the employer share of social security tax 2022. For example, if your employer share of social
security tax for 2020 was $20,000 and you deposited
expired. The CARES Act allowed employers to defer the $5,000 of the $20,000 during 2020 and you deferred
deposit and payment of the employer share of social $15,000 on Form 943, line 14b, then you were required to
security tax. The deferred amount of the employer share pay $5,000 by December 31, 2021, and must pay $10,000
of social security tax was only available for deposits due by December 31, 2022. However, if your employer share
on or after March 27, 2020, and before January 1, 2021, of social security tax for 2020 was $20,000 and you
as well as deposits and payments due after January 1, deposited $15,000 of the $20,000 during 2020 and you
2021, that were required for wages paid on or after March deferred $5,000 on Form 943, line 14b, then you didn’t
27, 2020, and before January 1, 2021. One‐half of the need to pay any deferred amount by December 31, 2021,
employer share of social security tax was due by because 50% of the amount that could have been
December 31, 2021, and the remainder is due by deferred ($10,000) was already paid and was first applied
December 31, 2022. Because both December 31, 2021, against your payment that was due on December 31,
and December 31, 2022, are nonbusiness days, 2021. Accordingly, you must pay the $5,000 deferral by
payments made on the next business day will be December 31, 2022. Payment of the deferral isn't reported
considered timely. Any payments or deposits you made on Form 943. For additional information, go to IRS.gov/
before December 31, 2021, were first applied against your ETD.
payment due on December 31, 2021, and then applied
against your payment due on December 31, 2022. For

-2- Instructions for Form 943 (2022)