turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I got an email about paying a deferred tax amount due to CARES ACT. how do I do this?

With this have anything to do with my new job that I started in 2020 and being self employed?
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I got an email about paying a deferred tax amount due to CARES ACT. how do I do this?

It has to do with paying the self employment tax if you had a Net Profit on Schedule C.

 

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.

See this video on how to pay

How do I find out how much I owe in deferred taxes?

 

 

rjs
Level 15
Level 15

I got an email about paying a deferred tax amount due to CARES ACT. how do I do this?

See the following IRS notice for instructions to pay the deferred tax.


How self-employed individuals and household employers repay deferred Social Security tax

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies