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]

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.

[MinhT1 · Accepted solution]

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.

[chasevernon]

Thank you Minh!

[lindab5]

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

[JamesG1]

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.

[GinGin]

@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/