Announcement

Collapse
No announcement yet.

Household Employee W-2

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Household Employee W-2

    Recent post indicated employee's portion of FICA paid by household employer only goes in Box 1 of W-2, not boxes 3 & 5. Employer has paid this and included in 3 & 5 in past years. This would reduce amt employer has to send in with Sche H. Don't suppose there is any way to get any refunds? Just adjust going forward?

    #2
    Employer could file Corrected W-2s, then amend the Schedule H for the last 3 years.

    However, depending on how much money would be saved, it might not be worth the time or hassle (plus amended returns draw more scrutiny from the IRS). If I'm doing my math correctly, $10,000 of wages would usually result in a $117.05 refund ($765 of wages removed from Boxes 3 and 5, multiplied by 15.3%).

    Comment


      #3
      That was my feeling too. Don't think it is worth it for the taxpayer and the resulting SSA records corrections for the employee. These relationships are tenuous at best. For years, TP did not provide W-2 but began doing so at employee's request for credit to Social Security earnings and eventual retirement funds.

      Comment

      Working...
      X