Tax deferment program

Applications must be filed between January 1, , and April 1, Assessors must verify certain items on the applications and forward the applications to Maine Revenue Service within 30 days of receipt. The program is needs-based, requires the applicant to be receiving the Homestead Exemption, and has income and asset limits.

The PEO or other third party payer does not have to complete Schedule R with respect to any employer for which it is not deferring the employer's share of Social Security tax as long as the employer is not required to be included on Schedule R for any other reasons, such as for claiming the FFCRA paid leave credits or an employee retention credit. If the common law employer directs the CPEO or agent including a non-certified PEO or other third party payer that is designated as an agent by submitting Form or otherwise under the regulations under section to defer payment of any portion of the employer's share of Social Security tax during the payroll tax deferral period, then the common law employer will be solely liable for the payment of the deferred taxes for any wages paid by the CPEO or agent on behalf of the common law employer during the payroll tax deferral period.

However, the CPEO or agent may pay the deferred amount on the common law employer's behalf, consistent with its reporting and payment of other employment taxes for the common law employer.

CPEOs, agents, and other third party payers filing aggregate returns must attach Schedule R with their aggregate Forms listing their clients that are deferring deposits of the employer's share of Social Security tax irrespective of whether the clients are also claiming FFCRA paid leave credits or the employee retention credit.

The Form CT-2 for tax year will not be revised to reflect the deferral of payment of the applicable portion of the Tier 1 tax. Therefore, the employee representative should include a statement with each Form CT-2 that identifies the amount of Tier 1 tax equivalent to the employer portion of Social Security tax for which deposit and payment is deferred under section of the CARES Act. An employer that is either a monthly or semi-weekly depositor and that defers the employer's share of Social Security tax from one deposit in the second, third or fourth calendar quarter of , but deposits it in a subsequent deposit during the same calendar quarter, should not complete line 13b of Form The employer should report the amount deposited as the liability on Form for a monthly depositor or on Form , Schedule B, Report of Tax Liability for Semiweekly Depositors for a semiweekly depositor on the date of the deposit to avoid assessment of failure to deposit penalties.

Form CT-1 filers and Form filers that defer the employer's share of Social Security tax or equivalent share of the Tier 1 employer tax and subsequently deposit that deferred amount during should report the amount deposited as the liability on Form CT-1 for monthly depositors , Form A, Annual Record of Federal Tax Liability for semiweekly depositors , Form for monthly depositors , or Form A, Agricultural Employer's Record of Federal Tax Liability for semiweekly depositors.

These employers should not report any portion of the deferred amount of the employer's Social Security taxes or equivalent share of the Tier 1 employer tax on the CT-1 or Form itself, if the employer is a semi-weekly depositor. If the employer is a monthly depositor, the employer should report the amount of the deposit on the date of the deposit and not the liability in the Monthly Summary of Railroad Retirement Tax Liability for monthly railroad depositors or in the Monthly Summary of Federal Tax Liability for agricultural employers, as applicable.

The employer may pay the amount it owes electronically using EFTPS, by credit or debit card, or by a check or money order. An employer that files annual returns, like the Form , , or CT-1, should select the return and tax year to make a payment.

Each payment should be made for the calendar quarter to which the deferral is attributable, and the entry in EFTPS must reflect it as a payment due on an IRS notice. Generally, no. Therefore, the deferral itself does not result in an overpayment of taxes reported on Form However, if a household employer is eligible for advanceable paid leave credits under the FFCRA and reports those credits on Schedule H, Form , the taxpayer may receive a refund of the paid leave credits even while deferring the employer's share of Social Security tax.

This does not apply to credits for sick leave and family leave equivalent amounts for self-employed individuals. Self-employed individuals and household employers should consider deferrals under section of the CARES Act in determining their estimated tax payments and any income tax withholding from wages and other sources of income.

Publication , Tax Withholding and Estimated Tax for use in provides more details on determining these amounts. Employers that have already paid the employer's share of Social Security tax on wages during the payroll tax deferral period may not subsequently defer the payment of the tax by. However, the employer may file a Form X to apply a credit including the FFCRA paid leave credits and the employee retention credit against some or all of the employer's share of Social Security tax and claim a refund or credit of the tax on that basis.

More In News. What deposits and payments of employment taxes are employers entitled to defer? What's the difference between a deposit and a payment towards an employment tax liability?

This is to align with the payroll tax deferral period for the payment of the employer Social Security tax on the same wages For more information, see How does an employer defer the employer's share of Social Security tax?

How does an employer defer the employer's share of Social Security tax? If an employer deferred the deposit of the employer's share of Social Security tax due on or after March 27, , for the first calendar quarter of , or the payment of the employer's share of Social Security tax for wages paid between March 27, and March 31, , how does the employer report the deferral to the IRS?

May employers that file annual employment tax returns Form , Form , and Form CT-1 defer deposit and payment of the employer's share of Social Security tax? May employers defer a balance due of the employer's share of Social Security taxes if the balance due was a tax liability imposed on wages paid prior to the payroll tax deferral period and for which the deposit of the tax was originally due prior to the payroll tax deferral period?

Assume an employer does not defer the employer's share of Social Security tax by reducing its deposits during a quarter and that when the employer files its Form , the employer's liability for all employment taxes for the quarter has been fully paid as a result of deposits made during the quarter.

Can the employer then choose to defer the payment of the employer's share of Social Security tax already deposited by claiming a refund or credit on its Form ?

Is the ability to defer deposit and payment of the employer's share of Social Security tax in addition to the relief provided in Notice for deposit of employment taxes in anticipation of the FFCRA paid leave credits and the employee retention credit? May an employer that is eligible to claim FFCRA paid leave tax credits or the employee retention credit defer its deposit and payment of the employer's share of Social Security tax prior to determining the amount of employment tax deposits that it may retain in anticipation of these credits, the amount of any advance payments of these credits, or the amount of any refunds with respect to these credits?

Both disabled heirs and surviving spouses are not required to have 5 years prior ownership and residency. We are listed as a security interest holder for manufactured structures in the deferral program. You can't change the ownership document or be issued a trip permit, until the deferral account is paid in full.

To make ownership changes, contact your county assessment and taxation office. There is a fee to change the ownership. Agency Relative Content. Get account information Account lookup Get account information electronically with Revenue Online, or contact us to request account information by phone or email. You may defer both portions without being penalized as long as you continue to qualify for tax deferment and you renew your application on or before the July tax due date.

Remember to apply for your home owner grant before the tax due date, if applicable. If you applied after your property taxes are due, you must pay any late payment penalties to your municipality. Property taxes for classes 2 to 8 must be paid directly to your municipality and cannot be deferred. You applied before property taxes are due but your application was approved after the due date. If you applied before property taxes are due but your application was approved after the due date, you won't be charged late payment penalties.

Late payment penalties are applied after the tax due date and are legislative and cannot be waived or removed. Before you apply or renew your deferment application, check below to make sure you're ready. We verify your citizenship, equity and residence with your SIN and date of birth. This is a loan program and is very similar to the process of asking for a loan at your financial institution. Your personal information is encrypted at the time of entry to ensure your information is kept secure.

The application has a built-in equity calculator to confirm your eligibility. Having the following documents available may help you answer the equity questions:. Ensure you meet all eligibility requirements and have the information you need ready before you apply or renew an application.

If you have automatic renewal set up already, you don't need to submit an application. Our office will determine if you meet the program requirements and may contact you by email or mail requesting additional information. Requested information is due 30 days from the date the email request was sent or when the letter was issued. If they're not received by the due date, your application will be cancelled and late penalties will apply if it's after your property tax due date.

Apply or renew. Each registered owner or authorized representative must agree to the application's terms and conditions within 28 days of the application date. A reminder letter will be mailed to you 14 days after you apply if the other owners have not entered into the agreement.

Your application will be cancelled if each owner does not enter into the agreement within the 28 days. If a registered owner is deceased, you must contact the Land Title Office to remove them from the property title. We may request additional information by mail or email when we process your application to confirm your eligibility. Some firewall protection settings may prevent our emails from coming to you.

Add taxdeferment gov. If you need to submit additional information, you have 30 days from when the email request was sent or when the letter was issued to do so. You can check your application status online using:. Check your application status. Simple interest is charged on the deferred tax amount starting from the date your property taxes are due or the date you applied to defer, whichever is later.

Find out how interest is applied to your tax deferment loan. If your application is denied, you may try applying again next year.