Excess Social Security Tax Withheld
Excess Social Security Tax Withheld
If a taxpayer worked for more than one employer during the calendar year and more than a specified amount of social security tax is withheld, the excess of the amount withheld over that amount is treated as a tax payment and decreases the amount that would otherwise be owed or increases the amount that would otherwise be refunded. See our Social Security Wages and Earnings Base rate table for the figure for the current year.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
Copyright © 2003-2025 Farlex, Inc
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.