My understanding of the whole "deferral of FICA tax" COVID thing was that it was an option, not required, and that it was probably best NOT to opt in, unless the employer was financially hurting, and needed the extra time to pay those taxes. That's what I was hearing from several colleagues.

But now, filling out self-employment clients' returns, it seems that SE clients are being REQUIRED to defer their SE tax? Am I missing something? Did I do all the payroll wrong the last 3 quarters? If I'm correct that this is optional, how do I opt out of it on the Form SE? (Or is it only optional if you're incorporated, and not optional if you're self-employed?)

Great Hera, this is going to be a crazy year. Is it too late to retire?