Since I am paying Self Employment estimated taxes every quarter, isn't my estimated payments part of paying this back? no, the payback will be a separate payment. estimated taxes are for 2021. what you'll be paying back is the 2020 deferral. 50% due 12/31/2021 and the other half 12/31/2022. TT did the deferral based on how you answered certain questions. by the way the estimated taxes would have been computed based on the reduced liability due to the deferral. example: 2020 income taxes before deferral $32,000 deferral $8,000 =net taxes of $24,000. estimated tax requirement for 2021 would be $6,000 per quarter instead of $8,000
