Payroll Discussion about the W2 social security and medicare tax deferment and various important topics, studies, strategies, and general notes are discussed here.
W2 Social security and health insurance tax deferral is a collection of information, discussion comments from a Reddit source.
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W2 social security and medicare tax deferment
My company decided not to carry over to 2020, so our W2s are pretty standard. An employee emailed me asking me about a screen he got while filing his turbotax taxes. In summary, it indicates that the employer will send a W2c after recovering social security taxes from last year. Once you have fully repaid what you owe, your employer will send it to you, etc. So I didn’t have any other employee to ask about it, I granted it at the start of tax season. But I ran his numbers and his payroll taxes were 1.24 less than 6.2%. I’m having IT examine the system to find out why it’s so out of sync, because it’s more than rounded. Do I have to do a w2c for this?
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This thread was originally published on 2021-02-18 14:05:58.
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