COVID-19 Tax Deferrals Report
This article explains the COVID-19 Tax Deferrals report in Namely Payroll which will show which taxes have been deferred, the dates in which the deferrals are applied, and the amounts that have been deferred per tax.
Overview
On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides companies with the option to defer employer Social Security and applicable state taxes.
We have developed a new report that identifies the taxes you've chosen to defer. The COVID-19 Tax Deferrals report, available in Reports > Date Range in Namely Payroll provides a breakdown of all deferred taxes, the dates they were deferred, and the amounts deferred. This data is presented quarterly, or for the 2020 calendar year.
Please note: if you have not deferred any of your organization’s taxes, and you attempt to download the report, Namely Payroll will produce a blank page with an error, as there is no data to pull. Additionally, if Namely collects and remits any taxes that were originally deferred, this report will update accordingly.
FAQs
I have not deferred any of my taxes. Will this report provide any information for my organization?
If you have not deferred any taxes, and you attempt to download the report, you'll be taken to a blank page with an error message, as there is no data to pull.
This is expected behavior.
Is this report available as a PDF?
No - this report is only available as a .csv and can be found in Namely Payroll under Reports > Date Range.
Can this report be used in calendar years other than 2020?
No - tax deferrals were not available before the passage of the CARES Act, so any prior year reports would not contain any data.
Will this report be updated if I stop deferring any of my taxes?
Yes - if you stop deferring any of your taxes, the report will be updated accordingly.
Can I pull the deferred amounts per pay cycle using this report?
No - this report can only be pulled by quarter, or for the 2020 calendar year.