If you worked for multiple companies, you can claim a refund of excess Social Security Tax on your 1040 return. The excess for 2022 is to exceed $9,114 per taxpayer. TurboTax will add the excess to your federal refund or subtract it from the taxes due. You can check Line 11 on your Form 1040, Schedule 3, to see if the credit was applied.
For the credit to be applied, you must be considered as working for two companies. This is determined by looking at your employer's EIN. Multiple companies would have separate EINs on the W-2.
So if your paying agent is only using one EIN, they would be responsible for refunding the excess Social Security Tax paid. The employer would be responsible for issuing the following:
- A refund for the excess amount, and
- A corrected W-2 (also called a W-2c) shows the correct Box 3 and 4 amounts.
If your employer is not being cooperative, you can follow these steps:
- correct the Box 4 amount yourself before filing. Multiply Box 3 by a factor of 0.062 and enter that amount or 9,114.00 (whichever is less) in Box 4.
- Fill out IRS Form 843: Claim for Refund and Request for Abatement according to the Form 843 Instructions and mail it in separately to get your refund. Make a copy to keep with your tax return paperwork.
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