JeffreyR77
Expert Alumni

Get your taxes done using TurboTax

 

@Tinman123   You are deferring the payment of $1,256 of 2020 self-employment tax (1600-344). 

 

You will be required to repay 50% of the deferred amount ($628) by December 31, 2021 and the remainder by December 31, 2022.

 

Deferral of employment tax deposits and payments through December 31, 2020