You would just include the Federal Income Tax that will be withheld from your pay during 2018 to compute this. The Social security and Medicare you pay does not reduce your income tax liability for 2018.
How do I get my FICA Refund?
Ask your employer to refund the erroneously withheld FICA taxes and if a W-2 was already issued, to give you a corrected Form W-2c for that year. If your employer refuses to refund the taxes, you can file Form 843 (for instructions see here) and the IRS will refund the money to you.
Do I get a refund on Medicare tax withheld?
If your withholding is more than the tax you owe, then you can claim a refund for the difference. Employees pay 6.2% of their wages in Social Security taxes and 1.45% in Medicare taxes.
How do I get my Social Security and Medicare tax back?
To claim a refund of Social Security and Medicare taxes, you will need to complete and submit IRS Form 843. When you apply for a refund from the IRS, include either: A letter from your employer stating how much you were reimbursed. A cover letter attesting that your employer has refused or failed to reimburse you.
Can I get a tax refund on Social Security?
You generally cannot claim the overpayment on your income tax return and receive a Social Security tax refund from the IRS.
Do you ever get Social Security tax back?
Social Security tax is based on a flat percentage of salary and does not allow for deductions from your income like the income tax system, so a Social Security tax refund due to overpayment is rare.
Do I need to file a tax return if I only have Social Security income?
The IRS requires you to file a tax return when your gross income exceeds the sum of the standard deduction for your filing status plus one exemption amount. If Social Security is your sole source of income, then you don’t need to file a tax return.
