Excess FICA
My client had $45955 in wages which should give us FICA of $1930 however W-2 shows $2056. How do I put the $126 on line 69 of 1040 without overwriting the value ? If I do that it won't e-file. Any suggestions?
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cBKC3Eu3Cr4yUOacwZ5xHE
02/09/12 3:41pm PST
Viewed by asker 02/13/12 4:50am PST
Viewed by asker 02/13/12 4:50am PST
21 Replies
sjrcpa
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02/09/12 3:52pm PST
Does Box 3 of the W-2 show 45,955?
The more I know, the more I don't know.
02/09/12 3:54pm PST
The solution
If his employer truly overwithheld, he gets it back from his employer, not on 1040 Line 69
02/09/12 3:53pm PST
The taxpayer needs to contact the employer for a corrected W-2. You need to enter the W-2 info as it appears on the actual W-2. Theres nothing you can do on the tax return to correct this.
~~Lisa
tilt53
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02/09/12 3:53pm PST
If this was from only 1 employer, he has to get the excess returned to him from the employer who should also issue a corrected W-2.
Hail Cleo-Cat-Tra, Queen of Denial. I didn't do it.
For a professional answer you might want to ask this question of a paid support person at Intuit Tech Support (800-434-6818). Volunteers are not compensated or supported by Intuit.
For a professional answer you might want to ask this question of a paid support person at Intuit Tech Support (800-434-6818). Volunteers are not compensated or supported by Intuit.
02/10/12 6:12am PST
Thank you everyone for the correction to the information I received yesterday.
I called again today and spoke with Mrs. Mc Donald ID # 1000233117 and was finally given the correct information which I verified.
@ sjrcpa - You are partly correct in that they receive refund from employer. If the employer does not refund, the per publication 505, chapter 3 page 45 below table 3.2 it states:
Employer's error. If you had only one employer and he or she withheld too much social security or tier 1 RRTA tax, ask the employer to refund the excess amount to you. If the employer refuses to refund the overcollection, ask for a statement indicating the amount of the overcollection to support your claim. File a claim for refund using Form 843, Claim for Refund and Request for Abatement.
Thanks again for the knowledge.
Julia
IRMN
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02/09/12 4:05pm PST
That must have been some collision when all three of you bumped into each other rushing down the hallway to answer this one.
If this answers your question please click, um, ok I forgot what you are supposed to click. If this answered your question, how about just saying thanks and we will call it good.
02/09/12 4:32pm PST
http://www.youtube.com/watch?v=4E5F2iDg0FU I know we wanted to keep our identities secret, but the pillowcases were the best I could do.
02/09/12 5:43pm PST
Please verify, according to the IRS if an employer withheld too much FICA due to the changes which occurred last year in the reduction of employee paid FICA, it is to be claimed on line 69 of the 1040. The employer has already paid and filed all forms showing this amount paid on behalf of the employee.
This may be incorrect but I called back and received the same information. Please advise.
Thank you EVERYONE :)
02/09/12 6:07pm PST
She didn't according to the instructions for line 69. Line 69 relates to excess Social Security created by 2 employers, not mistakes made by the employer.
02/09/12 6:42pm PST
Julia, if you got that only by phone from IRS I am not sold. If that is written somewhere officially I will take back my answer.
02/09/12 7:09pm PST
I agree with Susan on this one. There's no way the employer overpaid this money to the IRS, the 941s just don't flow that way. Refund must come from the employer.
If you have a name and employee number from the IRS to back up your claim you can try to take it as excess SS but I'm 99% sure you'll get a math error adjustment, probably before the refund even goes out. $126 may not be worth the hassle to get paid preparers involved in arguing with both the IRS and the employer so I'd be interested in seeing if this works as a short cut. There's still that 1% chance that it might work... :)
02/09/12 11:45pm PST
Sandy - May seems soooo far away, sigh.
Julia, I'd bet most of my points that another call to the IRS would get a different answer (assuming that the second time around 'they' actually understood the question).
Unfortunately, the advice provided over the phone by the IRS isn't worth much of anything and can't be depended upon as substantiation.
02/10/12 6:14am PST
Anna,
You are so correct. Getting name and ID gets better service and advice. Much thanks for your feedback.
Julia
02/10/12 6:21am PST
You have to keep in mind that the folks answering the phones are often extremely green. They get thrown into phone answering duties as part of their early training when they first start working for the IRS.
02/10/12 7:05am PST
I gave up trying to get phone support from the IRS long ago when I realized they were just reading the paragraph straight out of Pub 17 (which I'd already read and didn't apply to the situation.) It's not really a help line, more like a "Pubs on Tape" service. Sometimes they mix it up a little and read from the form instructions instead though. I don't think I ever had anyone actually make it as far as the IRC. Even if they did nobody but IRMN would understand them since he has the IRC decoder ring.
