- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
No, they are not the same.
Social Security wages are those earnings that are subject to the Social Security portion of the Federal Insurance Contributions Act (FICA) tax. Employers must withhold Social Security and Medicare taxes from wages paid to both hourly and salaried employees. These two taxes are collectively known as FICA taxes. They will be on line 3 of your W-2.
State taxes withheld will be forwarded to your State by your employer. This will be credited towards any state taxes due. This will be on line 17 of your W-2.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
ā€ˇFebruary 8, 2021
8:01 AM