If you had only one employer, then you would have to get the excess social security tax withholding back from your employer. The employer reports and payments are based on math and not actual withholding so it's impossible for your employer to pay more to the IRS than is required. In this situation you must go back to the employer to receive a refund and a corrected W-2. For filing purposes, You can enter the correct amount of social security tax and proceed to to file now. It's important to follow up with your employer.
If you do have two different employers, then the employers do not have access to the information about each other in reference to your income. For this reason they would not pay too much FICA on your wages. In this case, any excess because you have earned more than $142,800 in wages when combined, the IRS will refund any excess social security tax because each employer would have paid it all to them.
On your tax return the excess will show up on line 11, of Schedule 3, Form 1040. You can view your 1040 form before you e-file:
- Open or continue your return. (TurboTax Online)
- With the Tax Tools menu open, you can then:
- View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
- TurboTax CD/Desktop - Select Forms (upper right) > Scroll to Schedule 3 (left) > View line 11
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