News & Analysis as of September 19, 2024

Social Security

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Federal Insurance Contribution Act (FICA) Taxes are United States federal payroll taxes levied to fund the Social Security and Medicare system. FICA Taxes burdens are divided between employers and employees and... more +

The Trust Fund Penalty – Times May be Tough, But Don’t “Borrow” from Withheld Taxes

Rivkin Radler LLP on 10/6/2023

It’s wonderful to be part of a successful business, especially in a strong economy. The owners are probably enjoying a more than just decent return on their investment and, in most cases, are getting along well enough. The...more

Withholding Taxes: Deferred Comp and Services Overseas

Rivkin Radler LLP on 9/7/2023

Approaching Year End- Which holiday do you dread the most? For me, it has always been, and likely will always be, Labor Day. Of course, with each passing year, anything that I describe as “always” is less meaningful than...more

FICA Taxes and Administrative Traps for Employers

Sullivan & Worcester on 4/17/2017

The nuances of the Social Security and Medicare tax system – collectively FICA taxes – continue to confound and increase the potential liability of employers who are not well versed in this area....more

Supreme Court to Decide Whether RIF-Related Severance Pay Is Subject to FICA

Proskauer - Employee Benefits & Executive... on 10/7/2013

Although some would argue that the next U.S. Supreme Court term is not shaping up to be as monumental as the last term, employers should have their eye on the recent decision of the Court to hear United States v. Quality...more

Avoiding Double Payroll Tax With Your Asset Acquisition

Gray Reed on 7/19/2013

When it comes to taxes, you would probably – and rightfully – guess that the majority the United States government collects are income taxes. ...more

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