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posted Nov 11, 2021 6:02:18 AM

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
Level 15
Nov 11, 2021 6:50:03 AM

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. 

Level 15
Nov 11, 2021 7:20:37 AM

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

 

Level 15
Nov 11, 2021 9:36:36 AM

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/ 

Level 15
Nov 11, 2021 10:58:40 AM


@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."