Self-Employed Must Prepare to Repay 2020 Deferred Social Security Tax by Rachel Kenney Rego, CPA
Posted on September 02, 2021 by Rachel Kenney Rego, CPA
Self-employed taxpayers who took advantage of COVID relief measures and chose to defer 50 percent of the 12.4 percent Social Security tax on net earnings from self-employment income earned during the period March 27 through Dec. 31, 2020, must prepare to repay half of the deferred amount by the end of this year. Failure to […]