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Medical Resident FICA Forum
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Just received FICA refund

Just received FICA refund from Massachusetts General Hospital on 5/15/13.

Zip Code: 01801

Re: Just received FICA refund

I received a FICA tax refund from partners/BWH for the 2002-2003 years. The interest calculated seemed ridiculously low compared to what I received for training elsewhere. Were we not to be paid interest from the IRS at statutory rates? I calculated that I received 13% over the 10 year period and was told that the IRS was not obligated to pay interest on the FICA tax refund. Instead, Partners paid a "money market" rate of interest.

Anyone have the same experience, with respect to interest paid?

Zip Code: 02115

Re: Just received FICA refund

I've seen other people's FICA refunds from the Partners, and they all seemed to include interest that is pretty much equivalent to the taxes that were being refunded. So I'm not sure what might have happened in this case. You should definitely contact someone at the hospital, or at the accounting firm that was helping out the hospital, and inquire as to why the interest paid to you is so low. Perhaps they made a mistake. Let us know what you find out.

Zip Code: 01801