It depends. I don't know where Turbo Tax is getting this information unless you reported a 1099-NEC and opted to defer paying your Self-Employment tax in 2020 because of COVID.
Right now, I would ignore this warning and file your taxes. It won't prevent you from electronic filing. Don't be too surprised if you don't receive the W2-C for the year.
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This does not make sense. Turbo Tax is telling me the exact same thing, and I know for a fact that no such thing was done.... This kind of error is unacceptable, Turbo Tax should be ashamed of this buggy software.
To suggest for us to just ignore this message is not ok. This issue will surely flow forward to next year's taxes, at which point it will only become more difficult to locate and fix the source of the problem.
We need a solution to correct the error, not just ignore it!
Check your W2 entries and particularly boxes 3 and 4. The amount in box 4 should be 6.2% of box 3. If it is not, TurboTax is thinking your employer might have deferred a portion of the employee share of Social Security as allowed by an Executive order late in 2020. If this amount is correct, then continue through the error. The other option would be to delete the W2 then re-enter and see if you still get the error message.
The pandemic has affected your taxes in many ways. Including reporting in TurboTax the amount of stimulus money you received. Click Here for more information on how the Pandemic affected your 2020 taxes.