KrisD15
Expert Alumni

Get your taxes done using TurboTax

Your employer should correct the FICA tax withholding and issue you a W-2C.

This corrected W-2 will show the adjustment for the tax, but not for the income. 

 

If the income was received but not repaid until the following year, you will be taxed on the additional income which you received even if it was received in error. 

 

If the amount repaid this year (2024) is more than $3,000, you may be able to get a credit for that repayment on your 2024 Tax Year return. 

 

See Pub 525 page 37

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