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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / W2 Print Error Msg : F...
Microsoft Dynamics GP (Archived)

W2 Print Error Msg : FICA/MC Tax W/H’ of $3389.41<> Calculated of 3389.41

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Posted on by sandipdjadhav 18,267

One of client received above error while printing W2, Employee Yearly Salary Details as below.

Employee Gross : 221.999.80

Federal : 209.826.56

Federal Tax Withheld : 40739.12

FICA SS Wages : 113700

FICA SOC Sec Tax Withheld: 7049.40

FICA Medicare Wages: 220826.12

FICA Medicare Tax Withheld: 3381.41

Net Wages: 158648.63

I don't know what exactly I have to do?

Microsoft KB says:

Error

FICA/MC Tax W/H' of $[MC Tax W/H] <> calculated of $[recalculated MC Tax W/H]

Resolution

Employee FICA/Med tax withheld must equal employee FICA/Med wages multiplied by FICA/Med rate

What adjustment I have to do !!! Please  help me.

Thanks

Sandip

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  • sandipdjadhav Profile Picture
    sandipdjadhav 18,267 on at
    RE: W2 Print Error Msg : FICA/MC Tax W/H’ of $3389.41<> Calculated of 3389.41

  • sandipdjadhav Profile Picture
    sandipdjadhav 18,267 on at
    RE: W2 Print Error Msg : FICA/MC Tax W/H’ of $3389.41<> Calculated of 3389.41

    Leslie,

    This year again same kind of error, for first employee it seems to be Medicare Tax is holding 11.85 more. What we need to do on First Employee?

    But don't understand 2nd employee.

    Any help on this highly appreciable.

    Thanks

  • sandipdjadhav Profile Picture
    sandipdjadhav 18,267 on at
    RE: W2 Print Error Msg : FICA/MC Tax W/H’ of $3389.41<> Calculated of 3389.41

    Ma'am,

    You Rock!!!! Highly appreciate for your reply and explanation.  I will follow your steps and update you status asap.

    Appreciate.

    Thanks

    Sandip

  • Verified answer
    L Vail Profile Picture
    L Vail 65,271 on at
    RE: W2 Print Error Msg : FICA/MC Tax W/H’ of $3389.41<> Calculated of 3389.41

    The calculated the Medicare Tax was figured as below.

    220,826.12 - 200,000 =  20,826.12  (excess over 200,000)

    20,826.12 * 2.35% = 489.41 (Medicare on excess)

    200,000 * 1.45% = 2,900.00 (Medicare on 200,000)

    2,900.00 + 489.41 = 3389.41 ( total Medicare tax to withhold)

    You are underwithheld by $8.00.

    To Fix it:

    I would do a manual payroll transaction and transfer 8.00 from their FIT withholdings over to their medicare withholdings.

    You will need 2 transactions

    1) decrease to Federal Tax by $8 (enter as a negative number)

    2) increase to FICA medicare of $8

    No muss, no fuss.

    Kind regards,

    Leslie

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