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A client received 1 W-2 from a PEO for 2 employers. The social security wages is double the normal amount. I used an override to claim the credit for Excess Social security but there is a critical diagnostic saying there must be at least 2 W-2s to e-file. Is there a work around or does this need to be paper filed? Thanks
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"The social security wages is double the normal amount."
Did you mean, the Social Security Tax is over the limit? How can wages be too high?
Don't yell at us; we're volunteers
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I have this, too, with 8 companies using one PEO and issuing 1 W2.
The PEO is doing it wrong.
I enter a bogus W2 with the excess SS wages so the TP gets the excess SS tax as a credit.
(And I bet it is the same PEO as you.)
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Thanks! It seemed to work for e-filing. Hopefully this situation will get addressed going forward.
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But will the taxpayer get credit for the excess SS withholding? I think not.
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My client has many companies--call it 4 companies. Each company pays him $100,000.HE RECEIVES ONE W2 from the PEO.
Federal, SS and Medicare wages are $400,000 on his one W2. SS is wrong.
PEO is doing it wrong.
If they gave him 4 W2s, each would have SS of $100,000 and he would get credit for the tax on wages over $142,800, or $257,200.
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Thanks for posting this solution! Since it has been a year, did this work or did you end up with an IRS notice? I am in the situation for TY2022.