3 ms·
How do I use a w4 to fix the social security problem without incurring underpayment of state and federal? Exemptions apply to all the taxes, no?
by demondemidi 3y ago
How do I use a w4 to fix the social security problem without incurring underpayment of state and federal? Exemptions apply to all the taxes, no?
- loeg 3y agohttps://www.irs.gov/forms-pubs/about-form-w-4 https://www.irs.gov/forms-pubs/about-form-w-4 Fill it out correctly and your employers will do the right thing.
- dpkirchner 3y agoI think the W-4 only applies to federal income tax. There's no field that instructs employers how much to pay in FICA (their share and yours). At best you can reduce withholdings to account for the excess FICA payments.
- loeg 3y agoIt's all total tax burden. Dollars are fungible.
- lupire 3y agoNot sure about state, but you don't pay Federal Income and FICA separately. They are just numbers that get added together. You just pay money, and the IRS splits it up after they collect. If you "overpay" Income by $1000 and "underpay" FICA by a $1000, you're done, no problem.