Oasdi tax repayment

Messages
14
Anyone know how to calculate how much extra oasdi tax is being taken out for repayment? Says at the bottom of employee express but it’s not listed in deductions.
 

Termine

⭐SuperStar
Messages
439
And to check if it's the correct amount: Take the total amount that was deferred in 2020. Subtract 1/26 of that number. Then divide the result by 24, and that's what should be coming out of each paycheck.

(They started doing it as if they were going to spread it over 26 pay periods, and then they decided to make it 25 instead.)
 

bomber996

Trusted Contributor
Messages
97
And to check if it's the correct amount: Take the total amount that was deferred in 2020. Subtract 1/26 of that number. Then divide the result by 24, and that's what should be coming out of each paycheck.

(They started doing it as if they were going to spread it over 26 pay periods, and then they decided to make it 25 instead.)
Really? My math checks out 100% for what they deferred divided by 26. Saved 100% of it into a HYSA and I'm paying myself back every other Tuesday. I'll have made about $3 in interest when all is said and done. Thanks Trump:rolleyes:
 
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