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chasevernon
New Member

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?

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.
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Accepted Solutions
MinhT1
Employee Tax Expert

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?

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.
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5 Replies
MinhT1
Employee Tax Expert

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?

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.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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chasevernon
New Member

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?

Thank you Minh!

lindab5
New Member

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?

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

JamesG1
Employee Tax Expert

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?

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.

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GinGin
Level 2

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?

@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-31-20...

 

EFTPS

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

 

 

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