NEW FORM 941
Now employers can defer social security taxes. It is available for social security on wages paid from March 27 to December 31. Half of the amount due to this concept is due on December 31, 2021, and the other half is due on December 31, 2022.
NEW W-4 FORM
The biggest change: no more allowances
This new form asks for filing status, income projections, and tax credit such tax credits for dependents.
This new version must be filled out for new employees who started in January 2020.
The Paycheck Protection Program
PPP provides small business funds to pay up to 8 weeks' cost of payroll, benefits, mortgage interest, and utilities.