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dennyzak
New Member

Why am I being told I have paid excess Social Security Tax, none of my employers have taken more than 6.2%?

 
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2 Replies

Why am I being told I have paid excess Social Security Tax, none of my employers have taken more than 6.2%?

Two possibilities.

1. If you earned more than $137,700 combined, then you paid more total social security tax than allowed, even though each employer withheld less.  You will get a refund on your tax return.

 

2. Turbotax is very sensitive to rounding of numbers and exact percentages.  If one of your W-2s is even 1 penny over exactly 6.2%, it will throw a red flag.  You can get rid of this problem by changing the box 4 social security tax on the offending W-2, lower it by a few cents or take the cents off.  This will not cause a problem with your tax return or with the IRS.  

Why am I being told I have paid excess Social Security Tax, none of my employers have taken more than 6.2%?

You may have misidentified your spouse's W-2 as being yours.

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