Understanding the differences between "wages" for FICA
and income tax purposes is key to proper withholding treatment.
While it's disappointing that this did not occur, we can't let this distract FICA
from its responsibility of helping shape cricket's future," he said.
The immediate fallout from this decision is that more than $1 billion in FICA
tax protective refund claims filed by employers across the country will not be paid.
Flowing from these responsibilities, SARB conducted AML & CFT inspections at various banks to assess whether the appropriate measures were in place to ensure compliance with the relevant provisions of FICA
Statutory employers, such as payroll service companies, are required to remit employer FICA
and FUTA taxes and employee FICA
taxes even though they are not common law employers.
According to the report, FICA
decided to refer to the matter themselves as they believe that the matters are 'concerning and disappointing', adding that this is merely an attempt from their side to deflect attention from the real point, for which they have issued a statement of unity signed by all players from six countries, except India.
The IRS guidance further supports a finding that certain HIRE act benefits, including the FICA
payroll tax exemption, apply to employers of seasonal employees.
You may access more information regarding the FICA
by going to http://www.
The laws and rules that affect public employers' federal FICA
tax obligations regarding Social Security and Medicare coverage provisions include numerous exemptions and exceptions to the laws that apply to the private sector.
check] Daub also recommends what's called the "carve-out" approach, with the goal being "to have a combination of FICA
and personal accounts that equal or exceed what you get now if we don't fix the system.
Even if an employer takes the position that the differential payments are not wages for FITW, FICA
tax, and FUTA tax purposes, it may still want to consider asking reservists whether they would like to elect voluntary withholding from the payments.
On Page 19, under FICA
& SE Tax, the 2003 FICA
wage base is $87,000.