Deferral of Employment Tax Deposits |
3 Months Ended | ||
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Mar. 31, 2021 | |||
Income Tax Disclosure [Abstract] | |||
Deferral of Employment Tax Deposits |
The Flexibility Act provides employers the option to defer the payment of an employer’s share of social security taxes beginning on March 27, 2020 through December 31, 2020 with 50% of the amount of social security taxes deferred to become due on December 31, 2021 with the remaining 50% due on December 31, 2022. The Company elected to defer such taxes starting in mid-April 2020. At March 31, 2021, the Company has deferred payment of approximately $1,252,000 in its share of social security taxes, of which approximately $626,000 is included in “Other long-term liabilities,” with the remaining balance included in “Accrued expenses” within current liabilities in the Company’s Consolidated Balance Sheets. |
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- Definition Deferral of Employment Tax Deposits [Text Block] No definition available.
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- References No definition available.
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