truth_saker asked:
I have a total of $121.36 as social security tax withheld and a total of $28.39 as medical care tax withheld. Am I liable to apply for refund.
I have a total of $121.36 as social security tax withheld and a total of $28.39 as medical care tax withheld. Am I liable to apply for refund.
No. Social security and medicare deductions are not refundable. They go into the fund to support those who are currently collecting those benefits. Theoretically, you’ll get all your contributions back in the form of benefits of your own, once you reach retirement age.
Comment by rtfm — March 10, 2010 @ 1:27 pm
No. You do not “get those back.”
Comment by jlf — March 13, 2010 @ 5:43 pm
Social Security/Medi(care/cade) bennefits are not based on a refundable method. You should look up to see if this could be accounted for in another category. Good luck.
Comment by TAXMAN — March 16, 2010 @ 11:36 pm
If you are a member of a religious sect that is exempt from ss and medicare, maybe – otherwise no, you can’t get it refunded.
Comment by Judy — March 17, 2010 @ 12:05 pm
With a few rare exceptions those are not refundable. You may get benefits of those programs at some point however.
Comment by Mathew — March 18, 2010 @ 9:57 pm
For the majority of the population, Social Security are not refundable, unless you’ve paid in extra above the max. limit (employee only – 6.2% of $106,800). Medicare is never refundable under normal circumstances.
Comment by 123456789 — March 20, 2010 @ 7:42 pm
Why should you?
Comment by Max Hoopla — March 21, 2010 @ 8:17 am