Question About Son's W-2 and Social Security Tax

[DAVEDCHICAGO]

My son , who just turned 19 and worked some of Last Year at his school, just forwarded me his W-2 to Do his tax return for This year (He should Learn how to do it, But I'm cutting Him some slack due to his taking a full courseload and 30 hours of work a Week...)

Anyway, he earned just under 4k and had Federal taxes withheld but in Boxes 3 and 5, Social Sec and Medicare wages it shows ZERO and also ZERO taxes withheld.

Is there a Reason for this? I was under the impression, Correct Me if Im Wrong, That ALL wages up to the ceiling were taxed for SS and Medicare, and There was no floor. And only in rare occurences is one not liable for SS taxes.

Thanks For the help in advance.

-DD

[DAVEDCHICAGO]

1. I should Mention

I should Mention that it is a Public State university that he is employed by. If that makes a difference.

[barbtries]

2. that may be the difference.

i think you should call them and inquire. and post what you learn, please, my son attends a state university and tutors, and i'll probably be doing his taxes too!
thanks

[PoliticAverse]

3. There's a student FICA exemption, see...

http://www.irs.gov/irb/2005-02_IRB/ar16.html

[DAVEDCHICAGO]

5. THANK YOU!!!

This explains it. Didn't Realize such Exemptions existed.

Thank you!

-DD

[TexasTowelie]

4. Let him be responsible and make him do his own taxes.

Let him know whether you will declare him as a dependent so you don't run afoul of the IRS.

It shouldn't take more than about 30 minutes and he needs to get into the habit of taking care of his own finances. Otherwise, you'll be balancing his checkbook until he gets married.

[DAVEDCHICAGO]

6. Believe Me, He is responsible

There are a Few things on His Return that will need to come from me. Mostly Investment Sales that we did for Him as a kid under UTMA etc.

He is paying His way through college living expenses with work and some of the Investments we had Set up for him (which weren't much). He is on a "near" full-ride scholarship. And Most importantly...he Will Likely graduate with NO DEBT !!!!!!

So I'd say he is pretty financially Responsible so far and ahead of (my estimate) 80% of his Classmates.

Regards,

-DD

[lamp_shade]

7. ...

[TexasTowelie]

8. My apologies for implying otherwise.

Tell him to keep the grades up and keep kicking a**.

[DAVEDCHICAGO]

9. No worries

I know a lot of parents Don't Keep a close enough Eye on their kids in the College Days...and they end up in big trouble.

I got a watchful eye on him...yet far enough Away he's Got his independence.