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What to do when say employer has withheld too much $ and I need updated w2?What should I do now???

 
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What to do when say employer has withheld too much $ and I need updated w2?What should I do now???

For 2023 the max for Social Security is $9,932.40 on $160,200 of wages (160,200 x 6.2%).

 

Check W2 boxes 3 & 4.  How much is in each box?  Box 4 should be Box 3 x .062 up to a max of $9,932.40.  If box 4 is more than that you need to get a corrected W2 from your employer.  Try leaving the cents off box 4.  But also go back and double check your W2 entries, you may have entered box 3 & 4 wrong.  A lot of people who have asked this found they did enter an amount wrong.

 

Or check W2 box 12.  You may have entered Code A by mistake.

 

A sure way to fix this is to delete the W2 and re-enter it.  That may clear something out.

 

Or post back with the amounts in boxes 3&4.

DawnC
Expert Alumni

What to do when say employer has withheld too much $ and I need updated w2?What should I do now???

For tax year 2023, you'll have excess Social Security withholdings if the sum of your Social Security withholdings exceeds $9,932.40 per taxpayer.  Also review your entries, you may have a typo somewhere.  

 

You can get excess Social Security tax refunded.   The procedure depends on whether the excess withholdings were caused by multiple employers exceeding the maximum or too much being withheld by a single employer.   Select your situation for more info.

 

Multiple employers

Single employer

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