Quarterly report pursuant to Section 13 or 15(d)

Deferral of Social Security Tax Payments

v3.22.1
Deferral of Social Security Tax Payments
3 Months Ended
Mar. 31, 2022
Deferral Of Social Security Tax Payments  
Deferral of Social Security Tax Payments

NOTE 3 – Deferral of Social Security Tax Payments

 

Pursuant to sections 2302(a)(1) and (a)(2) of the CARES Act, the Company has elected to defer payments of its share of Social Security tax due during the “payroll tax deferral period.” The payroll tax deferral period began on March 27, 2020 and ended on December 31, 2020. At March 31, 2022, the total remaining amount of the deferral was $37,728. Per the terms of the deferral program, such amount is due by December 31, 2022, at 0% interest.