Retirement tax questions

No, it is not.   The Social Security withheld in box 4 is not related to the amount of the tax refund you should expect.   That is the amount that is going toward the time when you are 62 or older so you can collect Social Security benefits.  You do not get that back as a tax refund.

 

 

The federal tax withheld from your paycheck in box 2 is what you may receive as a refund--or at least some of it.   Nor everyone even gets a tax refund.   There are a lot of variables that go into the calculation of your refund including how much tax you had withheld from your pay, your filing status, whether you have any dependents, the credits and deductions you are eligible for, etc. etc.  Enter all of your income and all of your other information and let the software do the calculations.  

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**