Payroll Taxes FICA Taxes

Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that... more +
Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that are withheld by an employer from an employee's wages and 2) taxes paid by an employer based on the amount of an employee's wages. These taxes may be advanced income tax payments on behalf of an employee. They are also employer and employee payments to a variety of government programs, such as social security, and unemployment/disability insurance. less -
News & Analysis as of

Supreme Court Finds that Severance Pay is Wages for Purposes of Payroll Taxes

On March 25, 2014, the Supreme Court held in United States v. Quality Stores, Inc. that severance payments are taxable wages for FICA purposes. This decision confirms employers’ responsibility to treat severance pay as...more

Employee Benefits: FICA Refund on Severance Pay?

Following a major new development on the coverage of severance pay under Federal payroll tax (FICA) rules, affected employers should consider filing protective tax refund claims with the IRS....more

Court Continues A Fairly Busy Term

Perhaps coincidence, perhaps not, but on "Cyber Monday" the U.S. Supreme Court refused to "click yes" to consider two cases contesting the constitutionality of click-through-nexus when, as discussed further below, it denied...more

Automatic Gratuities Are Now Wages For FICA Tax Purposes

Restaurateurs and wait staff beware: beginning this month, the IRS will classify automatic gratuities not as "tips," but as service charges reportable as regular wages which are subject to payroll tax withholdings. ...more

Avoiding Double Payroll Tax With Your Asset Acquisition

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

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

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...

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

Legal Alert: Correcting 2012 Withholding Errors

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

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

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

FICA Tax “Holiday” Ends With 2012, and Social Security and Medicare Contributions Increase For Some Employees

On January 1, 2013, Congress approved the American Taxpayer Relief Act of 2012, the bill designed to avert the so-called “fiscal cliff.” The Act, which President Obama signed into law yesterday, extended certain tax relief...more

11 Results
|
View per page
Page: of 1