One employer withheld excess SS tax but not the other

[SashaaChai]

Hello, so I have two employers.  One was fine , but the other withheld over 6.2% of that job's wages for social security taxes.  As a result it triggers turbotax to ask the employer for a refund and a corrected w2.   However I also noticed though, the total combined taxes withheld by both employers is less than the max allowed withhold amount of 9,932 for the year 2023.   Do I still need to do anything in my case? 

[DawnC]

Yes, you should get the excess amount (amount over 6.2%) refunded to you and ask for a new corrected W-2.   Your employer is supposed to withhold 6.2% of your Social Security Wages (the Box 3 amount on your W-2), up to a maximum of $9,932.40 per taxpayer for tax year 2023.    If one employer withheld too much Social Security tax, you won't be able to take a credit for the excess on your tax return.   Also, see this Help Article - Excess Social Security Withheld

You can correct the Box 4 amount yourself before filing.  Simply multiply the amount in Box 3 by a factor of 0.062 and enter that amount or 9,932.40 (whichever is less) in Box 4.

To get a refund for the excess withholding, fill out IRS Form 843: Claim for Refund and Request for Abatement according to the Form 843 Instructions and mail it in separately. Make a copy to keep with your tax return paperwork.

[SteamTrain]

BUT...if you don't have your W-2, you need to WAIT for it....do not use paystubs !

Possible issues.

1) EDIT your W-2 and make sure your box 4 value is correct....sometimes people miss a decimal point, or accidentally double-hit a key.

Excess still off?

2)  Make sure you are not adding SS and Medicare taxes together...they are separate entries on the software W-2 form.  SS in box 5, and Medicare in box 6.

3)  If box 4 seems to be the correct 6.2% of box 3, and you are getting the error...just drop a couple cents from the box 4 value entered.