Social Security Taxes

News & Analysis as of

IRS Retirement Plan Limitations for 2016

The Internal Revenue Service (IRS) has issued the new 2016 retirement plan limitations. In this announcement, the IRS sets forth the limits of the amounts that can be deferred under 401 (k) plans, 457 (b) plans and the...more

Alert: IRS Announces Adjusted Plan Limits for 2016

The Internal Revenue Service has announced the 2016 limits that affect the operation of tax-qualified retirement plans, including 401(k) plans, and certain other types of employee benefit plans, including deferred...more

Benefit and Contribution Limits for 2016

The Commissioner of Internal Revenue announced yesterday that the dollar limitations for benefits and contributions that apply to retirement plans generally will not change for 2016 because the increase in the cost-of-living...more

2016 Benefit Plan Limits and Thresholds: Few Changes from 2015

The Internal Revenue Service (IRS) has announced various 2016 benefit plan limits and thresholds. In most cases, there are no changes from 2015. According to the IRS, in general, the retirement plan limitations will not...more

Six Recommendations For Clients With Connections to France

There have been a number of changes to EU laws recently that have had, or will have, a direct impact on your clients who have connections with France. There are six stand-out issues that are worth careful and immediate...more

The Affordable Care Act’s Reporting Requirements for Carriers and Employers (Part 7 of 24): Mergers and Acquisitions

When it comes to mergers and acquisitions involving at least one applicable large employer (ALE), the substantive rules governing employer shared responsibility (under Internal Revenue Code § 4980H) and the corresponding...more

The Religious Freedom Restoration Act (RFRA) and Wage and Hour Law

Unless you are living under a rock, you are probably aware of the uproar in Indiana about the Religious Freedom Restoration Act that the state passed, triggering an incredible backlash inside and outside the state and a rush...more

How much Social Security tax do you pay?

Social Security Disability benefits are usually awarded to people cannot perform work with monthly income over $1,070. Many benefit recipients in Chicago do not earn enough income to pay taxes....more

Employee Benefits Developments - March 2015

The Internal Revenue Service recently issued Notice 2015-16, intending to initiate and inform the process of developing regulatory guidance regarding the excise tax on high-cost employer-sponsored health coverage. The...more

French Social Taxes: Taxpayers Subject to Social Security Contributions in Another EU Member State Could Claim a Refund

EU resident individual taxpayers who have paid French social taxes (contribution sociale généralisée (CSG), contribution au remboursement de la dette sociale (CRDS) and prélèvements sociaux) on France-originating real estate...more

No Refunds: Supreme Court Settles Circuit Split over Severance Payment Taxation

In its ruling on United States v. Quality Stores, Inc., No. 12-1408 (U.S. Mar. 25, 2014), the United States Supreme Court put to rest a decade-old battle over whether severance payments made to employees are taxable as wages...more

Misclassification of Workers: An Attempt to Save Could Cost Your Business A Bundle

In recent months, many business owners have noticed that their classification of workers is being closely scrutinized by a variety of federal and state regulatory agencies. Whether a worker is classified as an “employee” as...more

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