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Show INCOME TAX FILING AIDS Did you have more than one employer in 1959) Were your total earnings over $4,800) If so, your employers have deducted over $120.00 from your paychecks for F.I.C.A. taxes, is $120.00, that is, 2V2 of $4,800. Any overdeductions of F.I.C.A. tax can be claimed on your income tax return as additional income tax withheld. The W-2 slips your employers give you should show the amount of F.I.C.A. tax withheld, as well as the amount of income tax withheld. Add these F.I.C.A. amounts and compute them separately for hus-I hus-I bend and wife. Subtract $120.00 from the total of each and show the balance, the overdeduction, on your income tax return under the cciumn "Income Tax Withheld". In the column headed "where employed", em-ployed", write F.I.C.A. tax. If you use form I040A include this a-mount a-mount in with item 5, "income tax withheld". You have paid in too much for F.I.C.A. tax and now you are using the excess to pay your income tax or to increase the refund you have coming. (This column is being furnished to you as a public service by the Utah Society of Public Accountants.) |