SS taxes

[john_markley1]

My wife has been collecting SS for 3 years.  She's 68. She has a job where she earned $33,280 in 2024.  Box 4 (SS Tax) of her W2 shows $2,063.36 withheld and Box 6 (Medicare tax) shows $482.56 withheld. Why is this happening and where does this money go? Will she receive more SS benefits? Will it be somehow credited to her income tax withholding? We file jointly.

[AmyC]

1. When you work a job, you pay into Medicare and Social Security. 

2. By continuing to work and pay in, it could result in a higher payout as Social Security is based on your highest paying 35 years.

3. No, these taxes are not going to be a credit on your return.