Here is how:
- Return to the personal section- not the business section.
- Go to deductions and credits
- Scroll down to tax relief related to COVID.
- The bottom option in the group is for tax deferral.
If you are getting a refund, you will not qualify. If you owe, putting off the payment with no penalties and interest is helpful.
The deferral option only applies to Social Security taxes for self-employment incomes you earned from March 27,2020 through December 31,2020. The income is typically reported on a Schedule C. If you've already paid your self-employment taxes or they were withheld on your W2, you're not eligible to defer them.
@bkaemingk
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