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Contributions W/H exceed Annual Election Amount


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Guest Joe Vasko
Posted

How do you correct a situation when the contributions W/H for one of the FSA accounts exceed the Annual Election Amount and W-2 have already been issued?

Posted

Fix everything so that it's the way that it should have been:

* Refund the excess withholding

* Correct any related tax withholding and make the necessary adjustments/corrections on the employment tax forms

* Issue a corrected W-2 to match the annual election amount and the corrected withholding

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