Tax-III

Payroll Tax Repayment Plan Tool Now Live on Employee Self Service

Exchange associates who had payroll taxes deferred in 2020 can now choose how many pay periods they’d like to use to repay the deferred taxes in Employee Self Service (ESS).

Through March 8, associates can choose anywhere from one to 21 pay periods to have the deferred taxes deducted from their wages. Associates who have not made a selection by March 8 will automatically default to 21 pay periods.

Once logged in to ESS, associates can click the “Deferred Payroll Tax Repayment” link, located in the “Money Matters” section, to choose their repayment duration. Before making their selection, associates can use a virtual tool to calculate how much will be deducted from their wages every pay period for each available option. Pay stubs will also be expanded to include a table showing the amount repaid per pay period for the 2020 deferral.

Enacted via executive order in August, the deferral of Social Security payroll tax applied to about 24,000 Exchange associates making $4,000 or less per pay period between Sept. 1 and Dec. 31, 2020. Per the order, the deferred taxes must be paid back this year via withholdings from associates’ wages.

 

Have more questions about the repayment of deferred payroll taxes? Check out this FAQ for more information.

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6 Comments

  1. Natasha Davis on February 19, 2021 at 8:38 am

    Why can we not pay out of pocket the “Deferred Payroll Tax Repayment”? We were told to be aware and to save the money, because we will have to pay it back. But now we are forced to have it taken out of our paychecks.

    • Conner Hammett on February 19, 2021 at 10:35 am

      Hi Natasha, thanks for your question. Per the executive order, employers must withhold and pay the total applicable taxes deferred from employee wages and compensation. If you have money set aside to repay the entire amount at once and would like to deduct it from a single pay period, you may choose to do so using the Deferred Payroll Tax Repayment tool, located under “Money Matters” in Employee Self Service.

  2. Norman Kane on February 20, 2021 at 6:03 am

    When I went in to set up the repayment over two pay periods the calculation showed, I think $14 and change. It all flashed on the screen so fast I could barely read it. Now it won’t let me in to change it. What can I do, since I don’t want to be paying it back over months.

    • Conner Hammett on February 24, 2021 at 2:28 pm

      Hi Norman. Unfortunately, changes cannot be made to one’s repayment duration once “OK” is clicked to confirm the repayment duration selected in Employee Self Service.

  3. Eurie on February 23, 2021 at 12:42 pm

    Hi, did my deferred payment on the 19FEB2021.
    Will it get deducted the next PPE?
    I did it early, hoping they will deduct sooner due to budget planning.
    Please advise.

    • Conner Hammett on February 24, 2021 at 2:27 pm

      Hi Eurie, thank you for the question! The repayment will start being deducted starting with PPE March 5 (pay date March 12).

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