2910781
Hi,
I'm a PhD student and work for my university. One of the offices where I've worked, mistakenly withheld Social Security and Medicare taxes for about $500. I've requested a refund through my employer, they said it will take approximately 6 months to receive the money, but they haven't been able to answer my question as to whether I should just file my taxes with the W2 they sent me or file for an extension.
Does anybody know how I should proceed?
If I do file my taxes now, should I enter "0" in my field 4 and 6 or should I enter the amount I was wrongly withheld even if it is being rectified?
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File now. Enter the W-2 exactly as received. The FICA withholding and anticipated refund has no effect on your federal or state income tax returns.
If you earned money for work you did, you owe Social Security and Medicare tax, and probably income tax. Why would you think you don't?
I do owe income taxes, I don't owe FICA taxes. This exemption is clearly regulated by the IRS https://www.irs.gov/charities-non-profits/student-exception-to-fica-tax
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