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TT says employer owes 0.01 for Social Security Tax due to the way Box #4 was rounded by a fraction of a cent.
Hello,
I'm having a bit of an issue completing taxes in TT due to receiving the error "You may be due a refund from your employer" for what seems to be a rounding issue.
Box #3 of the W2 is 2641.64 and 6.2% of that is 163.78168. The W2 shows 163.79 (it got rounded up) in Box $4 (SS Tax), making it off by a fraction of a cent. Does an updated W2 need to be issued? Or is there another way to resolve this I may be overlooking?
Thank you in advance for any help!
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‎April 14, 2022
6:30 PM