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Resource: Maximum social security tax income level for 2015.

I work four jobs and just noticed on the second one, they're deducting social security taxes. The first job I work pays 99% of the maximum income level tax for social security (as of this writing $118,500), so I've already overpaid into it. I can reach out and have them adjust this going forward (but still will have over paid and didn't realize there was a maximum), or - if this isn't a tax problem - not adjust anything and get the money back when I file next year.

If someone overpays social security taxes, do they get it returned when they file taxes the next year?

  • Did one of your employers take out more than the maximum, or do you only hit the maximum if you add up two employers together? – Ben Miller Jun 29 '15 at 15:01
  • Thanks @BenMiller; I realize the way I worded it was confusing. The highest paying job pays 99% of SSN taxes, the next highest paying job pays 95% if each job were the only job that I worked. At next pay cycle (in July), I will be over the amount of social security that I need to pay between how much SSN taxes these jobs pay. This doesn't include the other two jobs, which are also deducting SSN taxes, though smaller than the second job. – user541852587 Jun 29 '15 at 16:09
  • Thanks for the clarification. An employer should never withhold more than 100% of the max, and if they had, you can ask for your money back from them. But if you go over the max due to more than one employer, you need to wait until your tax return to get it back. – Ben Miller Jun 29 '15 at 21:31
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Yes you will get back the extra money at tax time.

You are not able to adjust the withholding. Each employer will pay their share, and not get a refund, but at tax time, you'll get back any excess as if you worked one job.

On the tax forms the data from each W2 is loaded, including the Social Security (FICA) withheld. There are a number of circumstances that can result in the worker portion being too much, say 6 months at one job, 6 months at another, but the total for the year is well above the max withhholding level. Or the OPs situation with multiple concurrent jobs. If you fill the forms manually, I can't tell you the form the triggers the refund (yet) but the reporting of the excess payments will result in a refund via the same Federal tax payment /refund method. To be clear, your federal refund will be higher, or required payment lower due the the Social Security issue.

  • Can you explain how this works? Does the IRS automatically send you a check, or is there something you need to do on your tax return? – Ben Miller Jun 29 '15 at 12:39
  • Updated my answer. Does that help? I can track down the exact form or lines on the 1040 that do this. – JoeTaxpayer Jun 29 '15 at 13:53
  • On the 2014 1040, it's line 71. The instructions mention what needs to be done. – Ben Miller Jun 29 '15 at 14:59

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