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Same here this must be a bug.
It still shows that I will receive a W2C which I won't. I checked for updates before I verifying if turbo tax will continue to show this message. Now what should I do?
It has to be a bug in the program. The maximum earnings subject to the Social Security payroll tax is $137,700. If you multiply by 6.2%, the maximum tax amount that can be withheld is $8537.40. My W-2 has this exact amount and I am receiving the same message.
TurboTax needs to get this corrected quickly.
Yes, it is a bug that needs to be fixed.
I am also receiving the same Turbo Tax message that a W2C will be coming due to underpayment of Social Security Tax. I have been using TT for years, this is a software problem. I went back two years and the tax is exactly correct at the 6.2% level.
Message to Turbo Tax, please find the software problem and fix.
I am also receiving the same Turbo Tax message that a W2C will be coming due to underpayment of Social Security Tax. I have been using TT for years, this is a software problem. I went back two years and the tax is exactly correct at the 6.2% level.
Message to Turbo Tax, please find the software problem and fix.
I am also receiving the same Turbo Tax message that a W2C will be coming due to underpayment of Social Security Tax. I have been using TT for years, this is a software problem. I went back two years and the tax is exactly correct at the 6.2% level.
Message to Turbo Tax, please find the software problem and fix.
Check back on Friday...TTX certainly knows...here's the FAQ issued 18 hrs ago
____________________
We'll all find out then how good (or bad) a job they did at fixing it....along with any unintended consequences from the supposed "fix".
Not that the notice/message is needed at all...I think they should just get rid of it all together and not even bother testing for it.
(like the tens/hundreds of thousands of people who get W-2 forms with box 4 blank because that job is entirely out of the SS system)
I got same. This is a bug, but you can submit taxes anyway.
Yep me too. If this is a TT bug, why aren't they fixing it?
Same issue, but I actually overpaid Social Security on my 2019 return. It is also saying I have excess contributions to my HSA in 2019, which I do not. Hope this gets resolved soon.
This is a known issue. If you believe you received this message in error, you can continue to file your tax return.
We expect this issue to be resolved by 2/26/2021. If you’d like to receive progress status updates, please sign up here.
For info on self-employed tax credits and social security tax deferrals related to COVID-19, go here.
Crazy- it’s telling me same thing and my W2 is correct. Don’t appreciate added stress. I am disappointed in their software this year.
What is funny is I paid the maximum social security tax for 2020 which according to google is 8,537.40.
How exactly is anything deferred if I paid the maximum?
Some customers are incorrectly getting a message that "...a W-2c is on the way." Even if this is true, it doesn't prevent you from filing your return now. The IRS won't audit you for that--your employer is responsible for withholding the correct amount of Social Security tax.
To ease you mind, you can review your W-2 and make sure that:
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