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Social Security tips on refunds and FICA limits
Paula Zwintacher, social security district manager, advised on earning credits and potential refunds for excess FICA taxes paid in 1962. She noted employees earning up to 4800 dollars were taxed 3 1 8 percent, with W-2 forms showing no more than 150 dollars in FICA, and that multiple employers’ W-2s could yield refunds if total FICA exceeded 150 dollars. She added self employed rates and filing requirements for 1962, including a 4.7 percent tax on the first 4800 dollars of earnings and the necessity to file if net earnings surpassed 400 dollars even with no income tax due.
MENTIONED IN THIS ARTICLE
Paula E. Zwintacher
F.I.C.A
Federal Insurance
Zwintscher