Maximum Deferral of Self-Employment Tax Payments
We received a letter from the IRS stating we owe them an additional $2000 from our 2020 Tax Return.
For clarification, my wife is self-employed. I was not, at the time.
I looked over our 2020 Tax Return PDF and saw that under the Maximum Deferral of Self-Employment Tax Payments, there is an amount of just over $2000 on line 26 under section 3, but when I went back through my Turbotax account (I tried via amendment to see if I could find out where I chose that deferral option), I could not find where I elected to do that. And I don't remember choosing to do that because COVID did not negatively affect our income.
Was this automatic? If so, I had no idea it did that and am quite peeved because we had the money then to pay it all. And I got no kind of data stating I needed to remember to pay it back.
I mean, I could have just forgotten about all that, having COVID-brain and all. Who knows?
