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.