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Retirement tax questions
I know what the original taxpayer wants to do, I’m pointing out that beyond declaring on form 941 that half their pay is SS-exempt, they will also have to claim the same thing on a corrected W-2 and W-3. More routes to get caught.
(Declaring wages that are exempt from SS tax is not impossible, I filed many 941s for my church, and the church is exempt from from employment tax withholding on the pastor’s salary. But retroactively declaring half someone’s wages as exempt should raise red flags and the corrected W-2 creates an additional path for the situation to be noticed.)
December 31, 2022
6:02 PM