Terry worked for two employers during 2019. The amount of wages paid to Terry by both employers

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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

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Income Tax Fundamentals 2020

ISBN: 9780357108239

38th Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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