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Payroll Taxes › FICA Taxes › Internal Revenue Code (IRC)

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 -
Rivkin Radler LLP

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

Rivkin Radler LLP on

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

Dickinson Wright

Three Tax Principles that HR Professionals Should Know

Dickinson Wright on

Although it might not be obvious, tax law permeates most HR responsibilities – from paying an employee, to arranging for benefit coverages, to settling employment lawsuits, and paying pensions.  Knowing a few key tax...more

Faegre Drinker Biddle & Reath LLP

Payroll Tax Deferral: Uncertainties Remain One Week Prior to Start of Applicable Period

Faegre Drinker Biddle & Reath LLP on

On August 8, 2020, President Trump signed an executive memorandum (the Memo) directing Treasury Secretary Mnuchin to issue guidance deferring the withholding, deposit and payment by employers of the employee portion of...more

Jackson Lewis P.C.

The FICA Tax Exemption For Non-Resident Aliens In The U.S. Under F, J, M, Or Q Visas

Jackson Lewis P.C. on

A common issue for employers of non-resident aliens authorized to work in the U.S. is whether (and when) such individuals are exempt from FICA taxation. Under the Internal Revenue Code, a nonresident alien (“NRA”) in the...more

Sullivan & Worcester

FICA Taxes and Administrative Traps for Employers

Sullivan & Worcester on

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

Best Best & Krieger LLP

Best in Law: Tax Ruling Confirms Protocol on Job-Related Judgments

Best Best & Krieger LLP on

The California Court of Appeal recently confirmed that employment-related settlements or judgments are wages from which employers must withhold payroll taxes. In Cifuentes v. Costco Wholesale Corp., Cifuentes...more

Bradley Arant Boult Cummings LLP

IRS Updates Guide to Auditing Nonqualified Deferred Compensation Plans

Bradley Arant Boult Cummings LLP on

The Internal Revenue Service (IRS) recently updated its “Nonqualified Deferred Compensation Audit Techniques Guide.” The Guide provides a framework for the IRS to audit nonqualified deferred compensation (NQDC) plans. Since...more

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