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Self Employment Tax Deferral For 2020

NapaCabLover
Level 1

I am trying to understand how taxpayers who have self-employment income in 2020 and who have chosen to defer 50% of their self-employment taxes to 2021 and 2022 will make their payments.

I understand that businesses who chose to defer paying payroll taxes will make their payments through their normal payroll tax deposits and report accordingly on Form 941 for the applicable quarter in which the deposits were made.

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IntuitAustin
Intuit Alumni
Thank you for your question! Since this is a tax advice question, we’ve moved it to our product discussions board for discussion among your peers.

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