Hi all,
I set my FSA Account limit to $5,000 for 2020 but I just discovered that one of my wife's employers added to her W2 a Dependent Care Benefit Box 10 $2,920. It looks like then that we over-contributed for the annual Dependent Care Benefits. Now, they never told us about this "Benefit" because for us it was a discount for our son since she worked at that DayCare facility, she left that DayCare and started in a different one in October 2020 and this DayCare's W2 has nothing on Box 10. I'm looking for some clarification on this to see if they can fix the W2 or I guess that's their way to report expenses for the business but they never notified us about this. Now, since we both contributed $7,920 in total, How much is the tax percentage that we need to pay for the difference?
Thank you so much in advance for your answers.
Alex.
