How do I pay the deferred self-employment tax?

[judes525]

I'm self-employed and opted for the maximum deferral of self-employment tax payments. I know that the first payment is due by Dec 31, 2021 and the second payment is due by Dec 31, 2022. But how should I send these payments to the IRS? Will they provide a payment voucher or mail me a reminder?

[pitman44]

I believe you have to set up an account here.  Welcome to EFTPS online  I use a business there for payroll taxes, but I suspect we'll need a personal account to make the deposits.  At least that what I got of the TT instructions.

[HollyP]

That is correct, @pitman44

Employers can make the deferral payments through the Electronic Federal Tax Payment System or by credit or debit card, money order or with a check.

Please see, What employers need to know about repayment of deferred payroll taxes, for more info.

[pitman44]

Wouldn't it be an individual making a self-employment tax payment, not a business?   As you mentioned deferred payroll taxes, but the question was about self-employment taxes.  I assumed I'd have to set up a personal account at EFTPS instead of using my business account there which is tied into my business EIN instead of my SS.

[judes525]

I'd like this clarified too please. I am self-employed and want to pay my deferred self-employment tax. Do I use the EFTP system even though I'm not a business?

[AmyC]

There are two different issues.

One - business has employees and elected to not take all of the FICA tax and is taking the remainder this year and paying it.

Two- business owner must pay SE/ FICA tax. On the personal tax return, it is divided in two. Half of if on the 2020 return and the other half on 2021 return.

Use the EFTPS for handling employees and their pay.

Use your tax return for your own SE deferral.

[pitman44]

Individuals can set up an EFTPS account.  You could use that or mail a check in.