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| Issue Number: COVID Tax Tip 2021-96How self-employed individuals and household employers repay deferred Social Security tax The Coronavirus Aid, Relief, and Economic Security Act allowed self-employed individuals and household employers to defer the payment of certain Social Security taxes on their Form 1040 for tax year 2020 over the next two years. Half of the deferred Social Security tax is due by December 31, 2021, and the remainder is due by December 31, 2022. How individuals can repay the deferred taxes • Can make payments through the Electronic Federal Tax Payment System or by credit or debit card, money order or with a check. What individuals should do if they are unable to pay in full by the installment due date If the installment amount is not paid in full, IRS will send the taxpayer a balance due notice. Taxpayers should follow instructions on the notice to make a payment or apply for a payment plan. They can also visit the Paying Your Taxes page on IRS.gov for additional information about ways they can pay, what to do when they can't pay, and viewing their tax account. Share this tip on social media -- #IRSTaxTip: How self-employed individuals and household employers repay deferred Social Security tax https://go.usa.gov/x6FRu Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |
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