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My wife received an overpayment of $3600 in Social Security…

My wife received an...

My wife received an overpayment of $3600 in Social Security payments for 2017. We paid %10 Federal Income taxes on that, but must now pay back Social Security this year (time payments over 12 months). How do I recover the Federal Taxes paid on the money that I'm paying back?

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

Nope. I'm doing my taxes now and wasn't sure how or when I can get credited for the over payment of taxes on my wife's Social Security income.

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Answered in 6 minutes by:
3/10/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,699
Experience: Taxes, Immigration, Labor Relations
Verified

Federal income tax withholding is remitted to the IRS.

So - all taxes withheld from your social security benefits may be refunded by the IRS.

The proper way to request a refund - to file your federal tax return - and have withholding credited toward your tax liability.

So - that amount will be added to your refund.

Let me know if you need any help with reporting.

Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,699
Experience: Taxes, Immigration, Labor Relations
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Lev and 87 other Tax Specialists are ready to help you
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Customer reply replied 1 month ago
Hmm. "...all taxes withheld for SS may be refunded..."? Does that mean I shouldn't have income taxes withheld from SS benefits, and that my refund includes "all" income tax payments made voluntarily to SS?

That is exactly correct.

The same principle applies to taxes withheld from your paycheck and from social security benefits.

On your tax return - you calculate your tax liability

Then - add together all withholding - and credit that amount toward your tax liability.

So - when withholding is larger - you are getting the difference as your tax refund.

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