I already filed my taxes and received $1109 direct deposit.
Today I received IRS check for $2719. Checked my account online and it shows this.
I think it is for the $3079 excess social security tax that I paid through my second employer (I switched jobs mid year).
Didn't they already gave me a credit for that on my initial tax return?
Also what is the additional tax assessed $371, do I need to wait for a notice?
@nejidoreb123 wrote:.....what is the additional tax assessed $371, do I need to wait for a notice?
You can wait for a notice or call customer service.
https://www.irs.gov/faqs/irs-procedures/refund-inquiries/refund-inquiries-20
Definitely, you'd have to wait or call in for an explanation.
BUT
If you overpaid SS from two jobs, that indicates a fairly high income....perhaps your income was high enough that you were also subject to the additional 0.9% Medicare tax assessed on high wage earners. (i.e. the extra $371)
Read:
Topic No. 560 Additional Medicare Tax | Internal Revenue Service (irs.gov)
How did you calculate the extra $371? My social security wages between the two jobs is ~192k, SS withheld is ~12k total, so I overpaid by $3079.
It seems like they already gave a credit of $3079 in the first return for the excess social security withholding. Then they refunded another $3079 minus 11 (which I paid for changes in amended return) minus 371 (for new tax due).
Here is the CP21B notice. I'm not really sure why $3079 is processed twice? Am I eligible to cash the refund?
Don't know if this means anything or goes together but did anyone notice that 371 is 360+11?
Yes that is weird. The $360 is penalty for my excess Roth contribution. The $11 is when I amended my return I added 1099-INT and had to pay extra.
@VolvoGirl wrote:
Don't know if this means anything or goes together but did anyone notice that 371 is 360+11?
Yes, and 371 + 2719 = 3090. Then if you subtract the $11 (-11) that equals $3079.