Anyone else notice they are paying more than the max amount of social security at. For 2022? The max contribution for this year is $9,114.
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@1cql Châteaubriand for $10 USD in Buenos Aries. Best bottle of red in the hemisphere for less than $7 USD.
Argentina is also Disneyland for a grown-man. Better than Brazil IMO, but that’s a matter of taste.
This happens because you make too much $. The taxable maximum for social security tax this year 2022 is $147K. I feel so sorry for you that you have to go over the tremendous inconvenience of entering two W2's in TurboTax to get the reimbursement from the IRS of your overpaid SS tax. OMG, what a terrible problem.
As mentioned, Corporate Separateness dictates the SS tax resets if one switches from one division to another. You will get it back with your return.
You get what you pay for with respect to the folks in argentina
The company is irresponsible in stewarding/communicating such impacts to the US employee. Folks in Argentina should have a procedure for this.
Protect your pawns, EM!!
get that vi-----r out your b-m.
Get the letter! Not only did I submit it to the IRS the year after I got relocated, but I had to submit it a second time four years later when they decided to have another go at me! Make sure to send by certified mail with return receipt. The people sending you threatening letters are complete id--ts, so make sure to take every step possible to protect yourself.
The letter isn't always issued automatically, I've had to request it twice in the past. If you do need to request it, it's called a "common pay agent" letter.
Happened to me several times. You will get a letter from payroll that you need to file with your tax returns. You will get your refund. Make sure to keep the letter as IRS will get you audited in 3-5 years and they will claim that you need to pay the refund back with interest.
Makes sense. Stupid reorgs….
If you were switched between 2 XOM entities, you will pay more than the max in FICA, assuming your salary is higher than the maximum. You get this back when you file your tax return. This is required by the statute on FICA withholding.
Ie, you started the year working foe EM Uncon, Inc and now get paid by EM Carbon Capture, Inc, you will have more than the max FICA withheld.
The good news is that XOM doesn't get to claim the overpayment back. Think of it as you sticking it to "the man"