I have a part time employee who holds another job where he reached maximum withholding for social security. For the wages we paid him, we also withheld and paid employer portion of social security. I know the employee can claim back the 6.2% he overpaid on his tax return. My question is how about the 6.2% we, as employer, contributed and paid over the maximum. Can we claim it back? how and where to find more information?
The employee get the excess returned on his tax return ... but the employer has no such recourse ... this is an individual limitation not an employer one. Even if he only worked for you and went over the SS limit you still have to keep paying the employer's portion of the SS taxes.