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#2
02-28-2005, 06:57 PM
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 Re: Excess social security tax Peter K wrote: - quote - > For most of 2004 I worked for a company I'll call Company B.
No. 3 Forms W-2 => 3 employers.> It was a small division of a public corporation, Company A. > During the year, we were acquired by a private Company C. So > I received 3 W-2s, one from B with the bulk of my wages, one > from C, and a third from A, because I exercised/sold some > stock options from my "former" company's parent that were > treated as wages. > My wages from Company B exceed the social security $87,900 > max all by itself, though all 3 W-2s show social security > tax withheld. My question is, do I consider these to be one > employer, in which case I believe I have to pester them for > the overpayment, or different employers, in which case I can > report it on 1040 line 66 as excess tax withheld? The three > W-2s have different employer ids so I'm assuming line 66 is > the way to go but I'm not sure since I never actually quit > my job. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-24-2005, 07:56 AM
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| Re: Excess social security tax The IRS will refund you the extra. Your employers don't refund you, nor do they get their overpayment. An aside: does anyone know if you get the extra employer credit in your personal social security account? I've noticed in my annual SSA account statement, the employer paid total is higher than the personal paid total. I've had surplus refunds a couple times. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-24-2005, 06:58 AM
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| Re: Excess social security tax "Peter K" <petek1[at]petekoenig.com> wrote: - quote - > For most of 2004 I worked for a company I'll call Company B.
I vote for line 66.> It was a small division of a public corporation, Company A. > During the year, we were acquired by a private Company C. So > I received 3 W-2s, one from B with the bulk of my wages, one > from C, and a third from A, because I exercised/sold some > stock options from my "former" company's parent that were > treated as wages. > My wages from Company B exceed the social security $87,900 > max all by itself, though all 3 W-2s show social security > tax withheld. My question is, do I consider these to be one > employer, in which case I believe I have to pester them for > the overpayment, or different employers, in which case I can > report it on 1040 line 66 as excess tax withheld? The three > W-2s have different employer ids so I'm assuming line 66 is > the way to go but I'm not sure since I never actually quit > my job. -- Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-23-2005, 04:52 AM
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| Excess social security tax For most of 2004 I worked for a company I'll call Company B. It was a small division of a public corporation, Company A. During the year, we were acquired by a private Company C. So I received 3 W-2s, one from B with the bulk of my wages, one from C, and a third from A, because I exercised/sold some stock options from my "former" company's parent that were treated as wages. My wages from Company B exceed the social security $87,900 max all by itself, though all 3 W-2s show social security tax withheld. My question is, do I consider these to be one employer, in which case I believe I have to pester them for the overpayment, or different employers, in which case I can report it on 1040 line 66 as excess tax withheld? The three W-2s have different employer ids so I'm assuming line 66 is the way to go but I'm not sure since I never actually quit my job. Thanks. Peter << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| excess, security, social, tax |
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