Repaying Deferred Social Security Tax
Some taxpayers may have chosen to defer a portion of their self-employment tax that was due as part of their 2020 federal income tax return. This was discussed on pages 30 to 32 of the 2020 edition of the Tax Year 2020 M+O=CPE Individual Tax Year-End Workshop Reference Book. This deferral was also available for the employer-share of the Social Security portion of the self-employment tax due ...