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I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

 
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6 Replies
Radamo
New Member

I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

I am also getting a message saying I will be getting a W2C... I have never (to my knowledge) deferred Social Security tax... Why am I getting this message????

DMarkM1
Expert Alumni

I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

Some customers have had this message appear without cause. 

 

First, make sure you have the most current product updates. 

 

If you have a desktop product click the "Online" tab and "Check for Updates". 

 

If you have an online product, sign out and clear your browser cache and sign back in. 

 

Here is a link with some helpful instructions on clearing cache/cookies if you need.

 

Go through the Federal review to see if the message still occurs. 

 

If the message persists, revisit the "Job (W2)" topic and delete the W2 and re-enter it.  Be sure to continue all the way through the "Wrap up income" at the bottom of the page to trigger the updates.

 

 

 

 

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Radamo
New Member

I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

I am using the Mac version which was downloaded to my machine.  It is fully updated but I still see the message.  This is the first year I have had such a weird issue with TT.  Not happy that I can't get this cleared up. 

DianeW777
Expert Alumni

I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

 Review the IRS Notice 2020-65 which explains more about this topic.

 

To Employers

If you deferred the employee portion of Social Security tax under Notice 2020-65, when reporting total Social Security wages paid to an employee on Form W-2, Wage and Tax Statement, include any wages for which you deferred withholding and payment of employee Social Security tax in box 3 (Social security wages) and/or box 7 (Social security tips). However, do not include in box 4 (Social security tax withheld) any amount of deferred employee Social Security tax that has not been withheld.

 

To Employees:

If you had only one employer during 2020 and your Form W-2c, Corrected Wages and Tax Statement, for 2020 (if you get one later), only shows a correction to box 4 (or to box 14 for employees who pay RRTA tax) to account for employee Social Security (or Tier 1 RRTA tax) that was deferred in 2020 and withheld in 2021 pursuant to Notice 2020-65, no further steps are required. 

 

This does not affect your tax return, only your social security account. For most employees no action is required.

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I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

I tried all of the above and it will still not work. I also contacted my employer and they verified my information was correct and that the proper amount of taken out of my paycheck. What do I do now?

JohnB5677
Expert Alumni

I received a message saying I'm getting a W-2c, but on my W-2, box 4 is exactly 6.2% what the value of box 3 is. Please advise

If you got the message  "Heads up! You have a W-2C coming" .  This was fixed in the newest release on 2/19/2020.

 

Only the customers who now legitimately will receive a W-2C will still get the pop up.

 

A W-2c form is used by the United States Internal Revenue Service for tax filing and reporting services. This form is known as a Corrected Wage and Tax Statement form.

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