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It's a bug, my employer did not defer anything. Just showed up with the latest update.
Thank you for explaining in detail as well. I did not defer anything and was not expecting this notice to pop-up.
Definitely a program bug. My box 4 is 6.2% of box 3 down to the penny.
An annoying waste of time to investigate. Needs to be fixed.
The same is happening to me. I checked last year's and this year's W2's (spouse and mine, filling jointly) and box 4 is 6.2% of box 3 on all. Seems like a TurboTax bug.
Schools W-2's do not fill in blocks 3 or 4 for, as you stated, they don't pay into Social Security. In most cases. Some state school systems do. Here in Ohio, they pay into the State Teachers Retirement System.
Yes, it looks like Turbo tax has a rounding error. Taking the amount in my box 3 and multiplying by .062 I see cents out too 4 decimal places. W-2 rounds down to 2 places. Turbo tax need to adjust software to round out to 2 decimal places.
Error in software.
Instead of Turbo Tax just stating that you have a W-2C coming soon there should be a better explanation. That in itself implies that the employee deferred their Social Security taxes, but in effect it was the employer that was able to defer these taxes under IRS Notice 2020-65 Reporting of Employee Social Security Tax Deferred. A link to this IRS Notice will also be beneficial and should clear up some confusion.
same thing happened to me. called support and was told that i did not remember that i had ss tax deferred. my ss tax is 6.2%. i do not think she understood and asked for someone else, was told it would be 24 to 48 hour before someone would contact me. hope they fix the problem on the next update
Appreciate if someone hears from Turbotax phone help that it is a bug that they would post that here. THX
I maxed my Social Security the last few years and am getting this message. Seems like a bug to me.
I agree - This seems to be a Turbo Tax error that is causing stress on filers.
I am having the same issue. I've used Turbotax for a long time and had been updating and reviewing over the last 2 weeks. Just recently this message is popping up saying that my employer will be sending me a W2-c because I deferred social security taxes last year. Not only did I not defer social security taxes last year, I actually overpaid into social security by $3,701 due to working at two different employers in 2019. Schedule 3 for Additional Credits and Payments for 2019 lists the $3,701 on line 11 for Excess social security and tier 1 RRTA tax withheld. This year for 2020 I've had only one employer the entire year and my box 3 for social security wages is maxed out at $137,700.00 and box 4 is 6.2% with an amount of $8,537.40. I did not file my return yet. It's great to hear that many think that this is a glitch in the software; although very unsettling and you would think Intuit/Turbotax would be all over this! I paid for the disc for turbotax premium from Costco. Turbotax needs to get on the ball and fix this with another update! They should also email a discount coupon code for the 2021 edition of Turbotax that we can apply to the purchase of next years disc for everyone who commented on this subject. We are all loyal Turbotax customers and "glitches" or flat out errors like this can happen; but if it is falling on deaf ears at Turbotax, and they don't fix this soon, I will seriously consider looking at different software when I file next year's return. This totally flies in the face of their saying "TurboTax has you covered"!
Same here, it is so annoying. Turbotax, please fix the bug.
If you got the message "Heads up! You have a W-2C coming" . This was fixed in the newest release on 2/19.
Only the customers who now legitimately will receive a W-2C will still get the pop up.
Actually its not. Still getting the message and updated after the date noted. Will not be getting W2C's but still getting this message.
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