Are self-employed individuals eligible to defer payment of self-employment tax on net earnings from self-employment income? Under the Coronavirus, Aid, Relief and Economic Security (CARES) Act, the IRS states that self-employed persons may defer payment of 50% of Social Security tax due on net earnings from their self-employment income, for the period of March 27, 2020 through Dec. 31, 2020. Also, for any tax year that includes part of the same deferral period, no penalty will be imposed for failure to make estimated tax payments of 50% Social Security tax due on their net self-employment earnings. See questions 9 and 10 of these IRS FAQs on employment tax deferral: https://bit.ly/2ybKCLV