Where can I find information on the Social Security Suspense account?
Shared by Vanna:
From what I understand the Social Security Administration checks to verify that names and SSN’s on W2’s match their records. In cases where the name on the W2 does not match the social security number on record, the taxes collected are put into a “suspense” account until the dicrepancy is resolved. This situation would occur if someone were to use a fake social security card, or they make a mistake when filling out their W2. In any case the balance in such an account would have to be Billions $$.
From what I understand the Social Security Administration checks to verify that names and SSN’s on W2’s match their records. In cases where the name on the W2 does not match the social security number on record, the taxes collected are put into a “suspense” account until the dicrepancy is resolved. This situation would occur if someone were to use a fake social security card, or they make a mistake when filling out their W2. In any case the balance in such an account would have to be Billions $$.
Where can I find information on this, such as current balance, balance over time, what is done with the money?
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