What does overpayment of taxes mean

[meganragains20]

what does overpayment of taxes mean?

[Vanessa]

That you paid too much in taxes.  

If you had an overpayment of federal or state taxes, it means you should be getting a refund of the amount you overpaid once you file your return.

If you are seeing that in regards to Social Security or Medicare taxes, it still means you paid too much, however, you will need to contact your employer to get this taken care of.  This sometimes happens when you have more than one employer or could be an error on your W-2.  You may also want to double check your entries. Click the link for more information on how to handle an overpayment of Social Security Taxes. https://ttlc.intuit.com/questions/1899484-can-i-get-a-refund-for-excess-social-security-tax-withheld

[MichelleT]

Overpayment means you can expect a refund.

There will be a question that asks if you would like to apply your over payment to next year's taxes. If you select no, you will receive a refund this year. If you select yes, then your refund will be applied to next years taxes due.