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FICA Taxes › Medicare

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 +
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 are currently set at 12.4% for Social Security and 2.9% for Medicare. 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

Rivkin Radler LLP

Withholding Taxes: Deferred Comp and Services Overseas

Rivkin Radler LLP on

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

Rivkin Radler LLP

Partners, S Corp. Shareholders And Biden’s 2022 Revenue Proposal: No More Business As Usual

Rivkin Radler LLP on

What A Ride- No one anticipated that the Administration’s proposed tax increases would fly through Congress easily – at least no one residing in a state in which the recreational use of marijuana has not been legalized....more

Holland & Hart - The Benefits Dial

Our D.I.V.O.R.C.E. … Is Going To Be Tricky For My Employer To Handle

Holland & Hart - The Benefits Dial on

Nonqualified deferred compensation plans often include anti-assignment language prohibiting a plan participant from assigning benefits to anyone. Because top-hat plans are exempt from most aspects of ERISA including 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

Proskauer - Employee Benefits & Executive...

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

Proskauer - Employee Benefits & Executive... on

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

Gray Reed

Avoiding Double Payroll Tax With Your Asset Acquisition

Gray Reed on

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

Winstead PC

U.S. Supreme Court Ruling: Defense of Marriage Act ("DOMA")

Winstead PC on

While the U.S. Supreme Court(the “Court”) ruled section 3 of the Defense of Marriage Act (“DOMA”) unconstitutional, that does not mean that the changes for human resources departments and employee benefits plans can be...more

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