Step-By-Step Tax Guide : Tax Facts : Double Check

If you worked for more than one employer during the year, you may be entitled to reduce your tax bill if the total amount of Social Security and Medicare taxes withheld from your paychecks exceeded the maximum set by the government.

For 1992, the maximum amount payable in Social Security taxes was $3,441, according to Coopers & Lybrand’s Jeff Saccacio. The maximum Medicare deduction was $1,888.

A quick check of your W-2 forms will show if you’ve given more than your fair share.