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Level 3
August 12, 2021
Question

What form does a self-employed individual use , no employees, the pay the first half of the section 2032 deferral that's due on 12/31/21?

  • August 12, 2021
  • 4 replies
  • 2 views
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4 replies

Just-Lisa-Now-
Intuit Community Champion
August 13, 2021

I thought I read that IRS will be sending statements out for this, I would guess a payment voucher would be included.   

I dont see an option for the SE deferred taxes showing on IRS Direct Pay yet, but I would think at some point it would appear there as well.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
andy595Author
Level 3
August 13, 2021

Thank you Lisa,

I tried to find an address and voucher form yesterday with zero luck. My client insists on mailing in a check so I need both. Please keep us informed, he was one of the returns that had an "automatic section 2032 deferral  " on Proseries that I missed in the review , small amount but he just received a IRS letter explaining the 12/31/21 and 12/31/22 payments due.

Thanks again,

Andy

dkh
Level 15
August 13, 2021

@andy595 wrote:

Thank you Lisa,

I tried to find an address and voucher form yesterday with zero luck. My client insists on mailing in a check so I need both. Please keep us informed, he was one of the returns that had an "automatic section 2032 deferral  " on Proseries that I missed in the review , small amount but he just received a IRS letter explaining the 12/31/21 and 12/31/22 payments due.

Thanks again,

Andy


@andy595  -  while @Just-Lisa-Now-   is very helpful through this forum, you do realize it's NOT her responsibility to keep us all informed on this situation.   

PATAX
Level 12
August 13, 2021

Maybe when the client receives the IRS statement / payment voucher consider having the client pay the entire amount since you said it was small and then you will be done with it... Just my opinion

Level 6
August 13, 2021

I chose to do the deferral on my own return and received the IRS letter last night. The reply voucher was in the letter. Payment goes to Ogden UT 84201-0059.

Letter number is LTR3064C with a barcode for my SS# and a notation of "BODCD-NOBOD"   (I have not determined what that notation means.)  The reply voucher does NOT have any dollar amount even though the letter mentioned once the amount that I deferred and that it was due half at 12-31-21 and half at 12-31-22 as well as saying that I could choose otherwise.

This letter does not mention paying thru EFTPS even though the IRS press release 2021-96  (July 6, 2021) suggested EFTPS and other methods.

andy595Author
Level 3
August 13, 2021

Thank you sooooooo much , exactly what  I was looking for !!!!!!

qbteachmt
Level 15
August 14, 2021

For reference (since it turns out people don't click the links when we provide them): The link provide by George has the info for using 1040V, using Direct Pay and using EFTPS.

"and a notation of "BODCD-NOBOD" (I have not determined what that notation means.)"

BODC: NOBOD no business operating division assignment.

identify the business operating division (BOD) of the taxpayer based upon the BOD identifier on IDRS.

  1. LM - Large Business and International

  2. SB - Small Business/Self Employed

  3. TE - Tax Exempt/Government Liaison

  4. WI - Wage & Investment

I work with TE quite often.

 

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