Terry worked for two employers during 2020. The amount of wages paid to Terry by both employers
Terry worked for two employers during 2020. 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 second employer.
b. Terry will complete a new Form W-4 for his second employer that will direct the employer to withhold no employment taxes.
c. Terry will claim a credit for excess Social Security taxes paid on his 2020 income tax return.
d. Terry will claim an employee retention credit in 2020.
e. Terry will file a Form 843 with the Social Security Administration to claim back excess withheld employment taxes.
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