Are You Paying Too Much Social Security Tax?

April 2, 2007 at 12:14 pm Leave a comment

I just did my tax and totally overlooked the significance of social security tax until I read about it in San Diego Tribune’s Sunday paper.  In 2006, the maximum social security tax (FICA) the government could be collecting is $5,840.40. For 2007, maximum FICA would be $6,045.

Luckily, my 2006 tax situation was very simple so I didn’t overpay (not sure about 2005 though. Is it too late to reclaim?).

Did you overpay? If so, here’s an article on how to recover excess payment.

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Entry filed under: Tax.

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