Efficient FICA Tax Withdrawal
Navigate the intricacies of the Federal Insurance Contributions Act with ease.
Sign InStudents on specific visas (F1, M1, J1, or Q) are exempt from Social Security and Medicare taxes. If these were wrongly deducted from your income, we'll guide you through the refund process, ensuring you reclaim any wrongfully withheld taxes.
At TaxFilers Way, our mission is to ensure that taxpayers reclaim every penny they've unjustly parted with. One area where many taxpayers lose money is through the Federal Insurance Contributions Act (FICA). If you're an international student on specific visas, this information is crucial for you.
What is FICA?
The Federal Insurance Contributions Act (FICA) is responsible for collecting Social Security and Medicare taxes in the US. For most individuals, these taxes are automatically deducted from paychecks by employers.Who is Exempted?
According to the IRS and US tax laws:
Students on F1, M1, J1, or Q visas are considered non-residents and they are not required to pay Social Security and Medicare taxes.
Did Your Employer Withhold These Taxes in Error?
Sometimes, employers may mistakenly withhold FICA taxes from the paychecks of international students. If this has happened to you, don’t panic. Taxfilers Way is here to guide you through the refund process.
Steps to Claim Your Refund:
1.Consult with Your Employer: Approach your employer and discuss the FICA tax withholding error. Ensure you obtain a written statement or letter from them acknowledging their oversight.2.Gather Necessary Documentation: Assemble all relevant IRS forms that pertain to your FICA refund claim.
3.Submission to the IRS: Combine your completed forms and your employer's acknowledgment letter. Then, mail this package to the specified IRS address for FICA refund claims.
Please Note: Be patient, as the IRS can take anywhere from 6 to 12 months to process and approve your FICA refund request.