Does deferring the SE tax create a penalty

[Pam4]

How are these deferrals made does IRS send a bill or does the program create a voucher? My client is asking and I can't seem to fine the answer

[abctax55 · Accepted solution]

No, it doesn't create a penalty.

The methodology for paying the deferral has not yet been determined by the IRS.

[Pam4]

Thanks!!!

[abctax55]

If I have any clients who want to do this, I'm going to make sure THEY keep track of the fact money will need to be sent 12/2021 & 12/2022.   I gave up babysitting as one of my professional services last year 🤣

They are free to contact me later in the year, once the IRS/Intuit comes up with the proper way to send the payment - but THEY have to be proactive about it.