turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

WalLM
New Member

I received a W-2C from my employer regarding tax year 2020. Noting incorrect amount of social security withheld on original W2, actual is an increase amount of $1656.74

 
2 Replies

I received a W-2C from my employer regarding tax year 2020. Noting incorrect amount of social security withheld on original W2, actual is an increase amount of $1656.74

For most people, for that particular change, there is nothing you need to do, since it usually doesn't affect your income taxes at all.

_____________________________________

The BUT is this.  IF you worked for more than one employer in 2020, and IF the total $$ withheld for SS in box 4 of the different employer W-2 forms adds up to more than 8537.40, then you could file an amended tax return for 2020, and get a refund of the excess SS withheld that was over 8537.40.  (if married, this only applies to your own W-2 forms. Each spouse's W-2 forms are considered separately)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

I received a W-2C from my employer regarding tax year 2020. Noting incorrect amount of social security withheld on original W2, actual is an increase amount of $1656.74

If box 1, box 2, box 16 or box 17 didn't change, then you generally don't need to do anything.  This is a result of the temporary suspension of social security taxes during the pandemic.  Your employer caught up on those suspended taxes, and has to issue a corrected W-2 to show the final amount collected.  It doesn't change your income tax return and you don't need to file an amended return.

 

The only time you might need to file a return is if you worked for more than one employer and your total wages were more than $132,900.  In that case, the catch-up withholding and adjustments might have resulted in you paying too much social security (FICA) tax, as described above.  

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies