I am currently going through an example of a former employer withholding FICA incorrectly and not wanting to refund it. It is related to a SERP and DCP where FICA taxes had previously been withheld at the time of vesting (for SERP) and contributions (for the DCP). My employer is now also withholding FICA at the time of distribution, essentially taxing me for FICA twice on the same income (the second time more due to investment growth) and I am no longer employed. I tried to have my former employer refund the FICA withheld at the distributions but they insist that they are withholding the taxes correctly and will not make any changes. Do I need to use the form 843 that you mentioned to request a refund of the FICA taxes that my employer withheld at the distribution payment of my SERP/DCP? Thank you.
NOT TOO LONG AGO FICA CAP WAS AROUND $70K NOW DOUBLE.
Thank you,, this is really helpful.. is there an update for 2024 or still the same percentage?
Wow what a great video!!
Feel bad for the employer now 😂😂
I am currently going through an example of a former employer withholding FICA incorrectly and not wanting to refund it. It is related to a SERP and DCP where FICA taxes had previously been withheld at the time of vesting (for SERP) and contributions (for the DCP). My employer is now also withholding FICA at the time of distribution, essentially taxing me for FICA twice on the same income (the second time more due to investment growth) and I am no longer employed. I tried to have my former employer refund the FICA withheld at the distributions but they insist that they are withholding the taxes correctly and will not make any changes. Do I need to use the form 843 that you mentioned to request a refund of the FICA taxes that my employer withheld at the distribution payment of my SERP/DCP? Thank you.