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On schedule 3 line 12e, do I have to pay a deferral for Schedule SE later to the IRS? And if so, when?

 
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4 Replies

On schedule 3 line 12e, do I have to pay a deferral for Schedule SE later to the IRS? And if so, when?

Follow the screens ... choose to defer then the repayment schedule will be presented ... if you don't want to defer then back up and choose to not make a deferral. 

rjs
Level 15
Level 15

On schedule 3 line 12e, do I have to pay a deferral for Schedule SE later to the IRS? And if so, when?

Yes, the tax on Schedule 3 line 12e (for 2020) is only deferred. It is not canceled or eliminated. You have to pay half by December 31, 2021, and the remaining half by December 31, 2022. See the following IRS notice for instructions to pay the deferred tax.


How self-employed individuals and household employers repay deferred Social Security tax

 

On schedule 3 line 12e, do I have to pay a deferral for Schedule SE later to the IRS? And if so, when?

since as of now it seems the IRS will only allow payment through EFTPS, enroll ASAP because the IRS must verify the info submitted and then send you a verification code.

 

https://www.eftps.gov/eftps/ 

rjs
Level 15
Level 15

On schedule 3 line 12e, do I have to pay a deferral for Schedule SE later to the IRS? And if so, when?


@Mike9241 wrote:

it seems the IRS will only allow payment through EFTPS


The IRS page at the link that I posted above says individuals "can make payments through the Electronic Federal Tax Payment System or by credit or debit card, money order or with a check."

 

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