What is rrta tier 1 withholding

To pay the deferred amount of the employee portion of Social Security tax, the employer will ratably withhold the amount of Social Security tax deferred from the employees' paychecks from January 1, through April 30, Read more details about the employee Social Security tax deferral here and the IRS attorney responses to questions about the program. View our Alert on the Form instructions.

See our survey results : Is your employer participating in the employee Social Security tax deferral? Reporting employee Social Security tax deferrals on Form W On Form W-2, box 4 Social Security tax withheld , the employer must show only the Social Security taxes that were actually withheld from the employee's wages and not the Social Security tax withholding that was deferred. If you had more than one employer and too much Social Security tax or Tier 1 RRTA tax withheld, you may be able to claim the excess as a credit against your income tax on your income tax return.

Page Last Reviewed or Updated: Nov Contact Us Support Signin. A taxpayer has paid in more social security tax than he should have. How is that recovered? Does the software provide a worksheet of any kind? Related Links. Refundable vs.

Non-Refundable Credits. Add lines 1 and 2. You cannot claim the credit. Subtract line 4 from line 3. Enter the result here and on Form , line 62 or Form A, line