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February 11, 2021
Question

Do i have to file a w2c for a 3 cent differance in social security taxes withheld

  • February 11, 2021
  • 2 replies
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2 replies

February 11, 2021

The form W2C is a corrected form. You only need to replace the corrected fields with the new values and mark that the W2 is corrected. In most cases, a 3 cent difference would not matter as all values are rounded to the nearest dollar. 0 to 49 cents are rounded down, 50 cents and up are rounded up. The only case that would matter is when for example the original value ends with 48 cents and is rounded down and the new value ends with 51 cents and is rounded up.

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Employee
February 11, 2021

If Turbotax is telling you to GET a W-2C because you were 3 cents over-withheld, just drop the cents from the box 4 entry.  Turbotax is sensitive to the penny but the IRS won't care if you drop off the cents.