FICA Taxes

Employers: Deadline To File Protective Payroll Tax Refund Claim Nears

by Rena Pirsos | XpertHR - Partnered with LexisNexis on 4/18/2013

Employers that paid federal income tax (FIT) and Social Security and Medicare (FICA) taxes on the value of health care benefits provided to employees' same-sex partners for tax years 2009 and after should consider whether...more

Federal Appeals Court Holds That Supplemental Unemployment Compensation Benefits Are Not ‘Wages’ Subject To FICA Taxation,...

by Robert Hertzberg, Lisa B. Petkun, Michael Reed | Pepper Hamilton LLP on 4/15/2013

In an important recent decision, United States v. Quality Stores, Inc., et al., Case No. 01-1563, 2012 U.S. App. LEXIS 18820 (6th Cir. Sept. 7, 2012), the U.S. Court of Appeals for the Sixth Circuit held that supplemental...more

Married Same-Sex Couples Should File Protective Claims For Tax Refunds Now

by William Rohrer | Carlton Fields on 4/10/2013

When the Supreme Court ultimately decides United States v. Windsor, it could strike down the portion of the Defense of Marriage Act (DOMA) that prohibits married same-sex couples from receiving the federal benefits provided...more

Employer Tax Considerations for Supreme Court’s Pending DOMA Decision

by Andy R. Anderson, David Fuller, Mary Hevener, Patrick Rehfield | Morgan Lewis on 4/9/2013

High Court considers the constitutionality of DOMA, which may create tax-refund opportunities for employers and employees before April 15....more

Deadline for Filing FICA Tax Refunds is April 15

by Sheppard Mullin Richter & Hampton LLP on 4/5/2013

As previously reported, the payment of certain severance benefits may be exempt from FICA taxes. Under the Sixth Circuit’s decision in Quality Stores, severance pay made in connection with an involuntary separation from...more

April 4th Deadline for FICA Tax Treatment of Severance Pay Under Quality Stores

by Vicki M. Nielsen | Ogletree, Deakins, Nash, Smoak & Stewart,... on 3/14/2013

Two deadlines relating to the Sixth Circuit Court of Appeals’ decision in United States v. Quality Stores, Inc., No. 10-1563 (6th Cir. Sept. 7, 2012), are quickly approaching. The deadline for the United States to file a...more

Reminder: Employers Subject to Additional Medicare Tax Withholding & Reporting Requirements, Effective 1/1/2013

by King & Spalding on 3/4/2013

The Patient Protection and Affordable Care Act (“PPACA”) increased the employee portion of the Medicare tax on wages received on or after January 1, 2013 by 0.9% of Federal Insurance Contributions Act (“FICA”) wages which are...more

File for FICA Tax Refunds Before April 15

by Sheppard Mullin Richter & Hampton LLP on 2/20/2013

As previously reported, the payment of certain severance benefits may be exempt from FICA taxes. Under the Sixth Circuit’s decision in Quality Stores, severance pay made in connection with an involuntary separation from...more

Union Friendly - Using Collectively Bargained Pension Plans to Maximize Employee Benefit Plan Contributions for Closely Held...

by Gerald Nowotny on 2/13/2013

Overview - In Part I of this series, I discussed the benefits of collective bargaining agreements for small business owners and professional corporations for qualified retirement planning. The ability to unionize...more

American Taxpayer Relief Act of 2012: Expanded Roth Conversions and Other Benefit and Retirement Related Provisions

by King & Spalding on 2/5/2013

On January 2 , 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) (the “Relief Act”) into law. While the principal intention of the Relief Act was to avert the key elements of the “fiscal cliff” by...more

Sixth Circuit Denies Government Motion for Rehearing in Quality Stores Employment Tax Challenge

by Stuart J. Bassin, Paul Schmidt, Christopher Swift, William Toomajian | BakerHostetler on 2/1/2013

The Sixth Circuit has unanimously and summarily denied a Government request for en banc rehearing of a taxpayer-favorable ruling in United States v. Quality Stores, Inc., 693 F.3d 605 (6th Cir. Sept. 7, 2012)....more

IRS Provides Administrative Guidance On Excludable Transportation Benefit Limits, Retroactively Increased As Of January 1, 2012

by Randall I. Cherkas, Michael Kadlec, Andrew J. Rudolph | Pepper Hamilton LLP on 1/25/2013

On January 16, 2013, the Internal Revenue Service (IRS) issued Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit benefits. Under Section 132(f) of the Internal Revenue Code...more

High Net Worth Family Tax Report, Vol. 8, No. 1 - January 2013

by Loeb & Loeb LLP on 1/24/2013

Table of Contents: Remember to file your gift tax return and other follow-up related to 2012 gifts; Review estate plans in light of $5 million exemption becoming permanent; Annual exclusion amount for gifts increased for...more

Employers Can Obtain Refund for Excess FICA Tax Paid as Result of Increased Excludable Limit for Transit Benefits

by Maureen O'Brien, Ruth Wimer | McDermott Will & Emery on 1/23/2013

On January 11, 2013, the Internal Revenue Service published Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit pass benefits. The American Taxpayer Relief Act retroactively...more

Congress Approves The American Taxpayer Relief Act Of 2012, Preventing "Fiscal Cliff"

by Christopher Abrams, Alicia Kirkpatrick, D. Scott Lindstrom, William J. Sanders, David N. Zimmerman | Polsinelli on 1/22/2013

After much contention,Congress passed the American Taxpayer Relief Act of 2012, and President Obama signed the legislation on January 2, 2013. The Act avoids automatic sunset provisions that were scheduled to take effect...more

IRS Guidance on Retroactive Increase in Qualified Transportation Benefits

by Ropes & Gray LLP on 1/21/2013

The IRS has released guidance to address employers’ questions about the retroactive increase in the monthly income exclusion for certain transportation benefits enacted as part of the American Taxpayer Relief Act of 2012 on...more

American Taxpayer Relief Act Affects Mass Transit Benefits and Other Employee Benefits

by Emily Erstling, Paul M. Hamburger, Lisa Berkowitz Herrnson, Steven Weinstein | Proskauer Rose LLP on 1/21/2013

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 ("ATRA") into law. ATRA, adopted as an alternative to stepping over the "fiscal cliff," preserves most of the Bush-era tax cuts and...more

Sixth Circuit Will Not Rehear Quality Stores Decision that Severance Pay in Connection with a Reduction in Force is not Subject to...

by Paul M. Hamburger, Elizabeth Mills, Andrea Rattner | Proskauer Rose LLP on 1/21/2013

On September 7, 2012, the Sixth Circuit Court of Appeals held in United States v. Quality Stores, Inc. that severance payments to former employees pursuant to an involuntary reduction in force are not taxable "wages" for...more

IRS Guidance to Implement Retroactive Increase in 2012 Mass Transit Benefit Limits—January 31 Deadline

by Vicki M. Nielsen | Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/18/2013

On January 16 the Internal Revenue Service (IRS) issued guidance on the application of the retroactive increase in excludible transit benefits, as enacted under the American Taxpayer Relief Act of 2012 (ATRA). IRS Notice...more

Legal Alert: Correcting 2012 Withholding Errors

by Jeffrey S. Ashendorf | FordHarrison on 1/18/2013

One of the changes made by the American Taxpayer Relief Act ("ATRA") was to restore the $240 monthly limit on employer-provided transit passes or commuting transportation, which had reverted to $125 as of January 1, 2012. ...more

Recent tax law changes of 2013

by Sheppard Mullin Richter & Hampton LLP on 1/15/2013

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. Summarized below are highlights of those and other changes to Federal tax laws affecting income, payroll, gift and estate, and...more

How Will the American Taxpayer Relief Act of 2012 Affect You - Details of Legislation passed by Congress to Avoid Fiscal Cliff

by Robert Howell, Westray Veasey | Poyner Spruill LLP on 1/15/2013

On January 2, President Barack Obama signed into law the American Taxpayer Relief Act of 2012, H.R. 8 (ATRA), preserving many of the key tax provisions passed during the George W. Bush presidency, which were scheduled to...more

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