topic I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amount. Where can I see how much tax was deferred and when its due? in Get your taxes done using TurboTax

I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amount. Where can I see how much tax was deferred and when its due?

chasevernon — Wed, 24 Mar 2021 16:57:24 GMT

When I filed my 2020 taxes (self-employed), I was asked if I wanted to defer some of the taxes we owed. Being short on savings, I agreed to the deferral. Now I can't find how much was deferred and when I'll owe it to the Fed. I want to plan on the amount I'll owe later, but need to know where to find that information.

Re: I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amou...

MinhT1 — Wed, 24 Mar 2021 17:54:36 GMT

The amount of self-employment tax that you deferred can be found on Schedule SE Part III line 26 and on line 12e of Schedule 3 to your form 1040.

The deferred amount must be deposited by the following dates (referred to as the "applicable dates") to be treated as timely (and avoid a failure to deposit penalty):

On December 31, 2021, 50 percent of the eligible deferred amount; and
On December 31, 2022, the remaining amount.

Re: I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amou...

chasevernon — Wed, 24 Mar 2021 20:07:23 GMT

Thank you Minh!

Re: I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amou...

lindab5 — Thu, 15 Apr 2021 15:50:33 GMT

What form needs to accompany payments of the deferred self employment SS taxes?

Re: I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amou...

JamesG1 — Thu, 15 Apr 2021 20:04:38 GMT

The payment will be made as you make other IRS Form 941 payments and the amount reported on IRS Form 941.

IRS Form 941 Instructions state: (page 2)

How to pay the deferred amount of the employer and employee share of social security tax.

Re: I'm self employed and deferred some of my 2020 taxes. However, I can't find the deferred amou...

GinGin — Mon, 17 May 2021 00:25:35 GMT

@lindab5

That form was total jibberish. Let's get with the times...

You can electronically pay through their website. Supposedly they will remind you as well, but I am not betting on that. See links.

Scroll down to number 18 where they refer to EFTPS and number 20 about "Will the IRS issue reminder notices?".

https://www.irs.gov/newsroom/deferral-of-employment-tax-deposits-and-payments-through-december-31-2020

EFTPS

https://www.eftps.gov/eftps/