Elwin worked at three jobs during 2017.He earned $30,000,$27,000,and $9,000,respectively,from the jobs.What amount can Elwin apply as a credit against his 2017 income tax liability for overpayment of FICA taxes?

Question

Quizplus · Accepted Answer

Elwin's total income is $30,000 + $27,000 + $9,000 = $66,000. The maximum amount of wages subject to FICA taxes in 2017 is $127,200. Since Elwin's total income is less than this amount, he did not overpay FICA taxes and cannot apply any amount as a credit against his 2017 income tax liability.

Elwin Worked at Three Jobs During 2017