3326965
I owe a few hundred dollars in federal taxes, but I overpaid social security by a few thousand dollars. When I preview my 1040 worksheet, the schedule 3 - 11, shows that I have a Total Excess Social Security. However, I'm unable to file my taxes without paying the federal taxes I owe. Does the social security credit get returned to me another way? Why won't what I owe on federal taxes just be deducted from the excess social security?
Thanks for any help!
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The excess Social Security taxes withheld reported on Schedule 3 Line 11 will flow to your Form 1040 Line 31 and be included in your tax payments.
If your total tax liability on line 24 is greater than your total tax payments on line 33 you will have taxes owed reported on Line 37 of the Form 1040.
The amount on Schedule 3 line 11 is added to other Schedule 3 items on line 15. Then that amount is reported on Form 1040 line 31 where it is added to your other payments and withholdings.
So the excess Social Security tax has already been taken into account on your return prior to calculating the balance due.
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