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New Member
posted Feb 20, 2021 7:59:22 AM

Do I really need to get a W-2c form for deferred taxes? i do not believe we deferred any taxes

We didn't take taxes out of a retirement fund. Is this why we are going to get a W-2c form?

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1 Replies
Level 15
Feb 20, 2021 8:22:28 AM

It does not mean that you will get a W-2C, only that you might.

 

A 2020 executive order deferred the withholding of SS & Medicare tax because of COVID.   That was an option that many employers did without informing employees that it was just a deferral.   

 

Because SS & Medicare tax will make no difference to 99.9% of all tax payers - the W-2C (if it comes) can be ignored.  Only if the additional tax exceeds the maximum yearly amounts would you possible get a small refund.

 

The e-mail is just to alert you to the possibility.