Excess Employer Withholding

Filed Under »
Dictionary Says

Definition of 'Excess Employer Withholding'

When one or more employers withhold more than the aggregate maximum amount of Social Security and/or railroad retirement contributions that should have been withheld from a single taxpayer during a taxation year.

Excess employer withholdings are reported on line 67 of Form 1040, and all Copy Bs of the taxpayer's W-2s must be filed with Form 1040.
Investopedia Says

Investopedia explains 'Excess Employer Withholding'

Excess employer withholdings arise either by human error, when employers make an error in calculating the amount of Social Security or railroad retirement contributions to deduct, or simply from the employee having more than one employer during the year.

If an employee has more than one job during the taxation year, then each employer will calculate Social Security withholdings as if the employee had only one job during the year, which will cause excess withholdings.

Articles Of Interest

  1. Maximize Your Social Security Benefits

    The plan's cost of living adjustments can provide protection against inflation.
  2. 10 Steps To Tax Preparation

    Follow these simple steps to get you ready for April 15.
  3. Tax Withholding: Good For Government, Bad For Taxpayers

    It's important to understand where that money coming out of your paycheck goes and why - after all, you earned it.
  4. 3 Common Tax Questions Answered

    We clarify some rules that often puzzle taxpayers.
  5. Top 6 Myths About Social Security Benefits

    Misinformation on retirement benefits is common. We'll set the record straight.
  6. Enough Money To Not Worry

    Our retirement goals have not changed. We still want enough money to not have to worry about it. How we go about getting there, however, has been changed dramatically.
  7. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.
  8. 5 Ways To Stretch Your Retirement Budget

    Living comfortably can be easy if you follow a simple plan.
  9. Immediate Annuities: More Income and Lower Taxes

    These instruments may shed their bad rap to bring you a hefty tax break.
  10. The Benefits Of Retiring Later

    Not only does retiring later give you more time to build your retirement nest eggs, but it may also keep you healthy.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Xenocurrency

    A currency that trades in markets outside of its domestic borders.
  2. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.
  3. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.
  4. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.
  5. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
  6. Chartalism

    A non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=fb62075e03699f65ef1eb6f9213337b9