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The CARES act was new for 2020. It has to do with paying the self employment tax if you had a Net Profit on Schedule C.

 

You need to pay it.  The self employment tax deferral was an optional benefit. It is also a deferral rather than forgiveness, so those amounts will eventually need to be repaid. Half of the deferred amount is due on December 31, 2021, and the other half is due on December 31, 2022.

 

Check if you have a Schedule 3 line 12e which goes to 1040 line 31.

 

IRS Reminder to pay

IRS reminder: For many employers and self-employed people, deferred Social Security tax payment due ...

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