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Dewoun has two jobs, and both employers withheld FICA tax. From the first job, $116,670.45 was earned and from the second job, $32,186.90 was earned.
Dewoun has two jobs, and both employers withheld FICA tax. From the first job, $116,670.45 was earned and from the second job, $32,186.90 was earned. How much can Dewoun claim as an additional payment on the Form 1040 as excess social security paid in 2022?
Please explain step by step. I know the wage base for computing social security taxes in 2022 is $147,000 and the social security tax rate for 2022 is 6.20%. Thank you in advance.
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