Terry worked for two employers during 2018. The amount of wages paid to Terry by both employers totaled $168,400 and the employers properly withheld both income and employment taxes. As a result of Terry’s two jobs:a. Terry will receive a credit against his employment taxes in 2019b. Terry will request a refund of overpaid employment taxes from his second employerc. Terry will claim a credit for excess Social Security taxes on his 2018 income tax returnd. Terry will claim a credit for excess Social Security and Medicare taxes on his 2018 income tax returne. Terry will file a Form 843 with the Social Security Administration to claim back ex-cess withheld employment taxes

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Asked Nov 8, 2019
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Terry worked for two employers during 2018. The amount of wages paid to Terry by both employers totaled $168,400 and the employers properly withheld both income and employment taxes. As a result of Terry’s two jobs:

a. Terry will receive a credit against his employment taxes in 2019

b. Terry will request a refund of overpaid employment taxes from his second employer

c. Terry will claim a credit for excess Social Security taxes on his 2018 income tax return

d. Terry will claim a credit for excess Social Security and Medicare taxes on his 2018 income tax returne. Terry will file a Form 843 with the Social Security Administration to claim back ex-cess withheld employment taxes

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Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct tax which is levied on and paid by the sa...

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