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February 21, 2021
Question

Anyone else getting a flag regarding W2 Social Security tax withhold $$ amount by employer being too much?

  • February 21, 2021
  • 1 reply
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Current calculation on W2 is correct at 6.2% so confused why getting notice that $$ withheld was too much.

1 reply

February 24, 2021

Deleting your W-2 and re-enter.  See if that clears it.  If you imported the W-2, try entering it manually.  Also, to make sure there is not an amount in box 7.  

 

The Retirement Savings Contributions Credit (Saver’s Credit) helps low and middle-income taxpayers save for retirement. Sometimes this is called the Credit for Qualified Retirement Savings Contribution or Retirement Credit. It’s a non-refundable tax credit which means it can’t reduce the amount of tax owed to less than zero.  If you have the opportunity to contribute to a retirement plan at work, you may be eligible for this credit.