year on such employee an amount equal to the amount of such overpayment, and (B) in the case of an aggregate underpayment of the taxes imposed by any such chapter for all such periods, the employee shall be liable for payment of the entire amount of such underpayment. (2) Credits treated as refundable For purposes of this title, any credit determined under paragraph (1)(A) or subsection (d)(2) shall be treated as if it were a credit allowed under subpart C of part IV of subchapter A of chapter 1. (3) Rules for reporting and collection of tax Any tax required to be paid by an employee under paragraph (1)(B) shall be included with the employee’s return of Federal income tax for the taxable year. (4) Secretarial authority The Secretary shall prescribe such rules as may be necessary to carry out the provisions of this subsection. . (b) Self-Employment income Section 1402 is amended by adding at the end the following: (m) Standard deduction for health insurance For purposes of this chapter— (1) In general The self-employment income of a taxpayer for any period (determined without regard to this subsection) shall be reduced by the excess (if any) of— (A) the portion of the standard deduction for health insurance (as defined in section 224) allocable to the period, over (B) the amount of any reduction in wages or compensation for such period under section 3512. (2) Determination of standard deduction allocable to a period For purposes of paragraph (1), the portion of the standard deduction allocable to any period shall be determined in a manner similar to the manner under section 3512. . (c) Conforming amendments (1) Section 3121(a)(2) is amended by inserting which is excludable from gross income under section 105 or 106 after such payment) . (2) Subsection (a) of section 209 of the Social Security Act ( 42 U.S.C. 409 ) is amended by striking or at the end of paragraph (19), by striking the period at the end of paragraph (20) and inserting