turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Do need to setup an OPA if I deferred Self-Employment Tax Payments?

As the title says, just curious if I need to go to the IRS portal and setup an online payment plan if I deferred Self-Employment Tax Payments (SCHEDULE SE).  I can't find anything about it.  I already paid the Federal amount that was owed, as well... only thing left that I owe is the deferred amount.  I was just planning on making a payment every month using these options:

https://www.irs.gov/payments/pay-your-taxes-by-debit-or-credit-card

 

Thanks in advance,

Steve

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
rjs
Level 15
Level 15

Do need to setup an OPA if I deferred Self-Employment Tax Payments?

The IRS has not yet issued instructions for how to pay the deferred self-employment tax. (When they do provide instructions, I doubt that it will involve a payment plan.) The first payment of the deferred tax is not due until December. You're going to cause trouble and confusion if you try to make payments before the IRS provides instructions for doing so. You should hold onto the money and wait for the IRS instructions. You can set aside money each month if you want to, but keep it in your own bank account until the IRS issues the instructions for paying the deferred tax.

 

View solution in original post

2 Replies
rjs
Level 15
Level 15

Do need to setup an OPA if I deferred Self-Employment Tax Payments?

The IRS has not yet issued instructions for how to pay the deferred self-employment tax. (When they do provide instructions, I doubt that it will involve a payment plan.) The first payment of the deferred tax is not due until December. You're going to cause trouble and confusion if you try to make payments before the IRS provides instructions for doing so. You should hold onto the money and wait for the IRS instructions. You can set aside money each month if you want to, but keep it in your own bank account until the IRS issues the instructions for paying the deferred tax.

 

Do need to setup an OPA if I deferred Self-Employment Tax Payments?

Thank you!  This is exactly what I was looking for.  I will just await for the official instructions on how to pay back the deferred tax.  Thanks again.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies