Terry worked for two employers during 2019. The amount of wages paid to Terry by both employers
Question:
Terry worked for two employers during 2019. The amount of wages paid to Terry by both employers totaled $168,400 and the employers properly withheld both income and employment taxes. As a result of Terry’s two jobs:
a. Terry will receive a credit against his employment taxes in 2020 from his employer
b. Terry will request a refund of overpaid employment taxes from his second employer
c. Terry will claim a credit for excess Social Security taxes paid on his 2019 income tax return
d. Terry will claim a credit for excess Social Security and Medicare taxes on his 2019 income tax return
e. Terry will file a Form 843 with the Social Security Administration to claim back excess withheld employment taxes
Step by Step Answer:
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill