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January 30, 2020
Question

Employer took out 8293.80 in ss taxes. Turbo tax tells me that the max is 8239.80 & I need corrected w2. Employer says I do not, they followed new guidelines. Is TT wrong

  • January 30, 2020
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DoninGA
Employee
January 30, 2020

Social Security website - https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/RatesLimits2019.html

2019 Maximum Social Security earnings - $132,900

Social Security tax rate - 6.2%

$132,900 * 0.062 = $ 8,239.80