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February 22, 2021
Question

If our W-2 amt shows for Social Security 7% of Wages was withheld not less then the 6.4% threshold to be considered deferred, should we be receiving a W-2c?

  • February 22, 2021
  • 1 reply
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1 reply

DawnC
Employee
February 22, 2021

 Your social security tax in Box 4 should be exactly 6.2% of your Box 3 amount - up to a maximum of $8,537.40 per taxpayer.   Employers had the option to defer your portion of social security taxes.  If you want to be sure that your employer did not do this, verify with them.   The only one I know of that did do it is the federal government, including the military.  

 

If you don't have self-employment tax, and Box 4 of your W-2 is 6.2% of your Box 3 wages, and you know your employer is not sending a W-2c, you can safely ignore that message.  This is not an error that will prevent you from filing and won't affect your tax return.   Revisit the section for the Self-employment tax deferral entry if you want to verify your entries:

 

  1. Return to the Deductions & Credits section.
  2. Scroll to Tax relief related to COVID-19 and Show More.
  3. Select Self-employment tax deferral and select Revisit.
  4. Answer NO - this may remove the error message. 
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