is the Federal Insurance Contributions Act
(https://www.fool.com/retirement/2017/01/28/what-is-the-fica-tax-and-why-do-i-have-to-pay-it.aspx) (FICA) which is taken out of an employee's salary to pay Social Security and Medicare.
Several other comments address how to apply the maximum wage base for Federal Insurance Contributions Act
taxes when an employee is paid wages by a CPEO.
The Federal Insurance Contributions Act
(FICA) taxes employers and employees to fund benefits distributed pursuant to the Social Security Act (SSA).
The average disability applicant has worked for 20 years -- and made 20 years of payments into the SSDI system through the Federal Insurance Contributions Act
deductions in his or her paycheck -- before seeking benefits, Stein says.
Thornton admitted that he was responsible for collecting, accounting for, and paying over to the IRS federal income taxes and Federal Insurance Contributions Act
(FICA) taxes that were withheld from the wages of SEI and First Touchs employees.
That ruling stated that (1) bona fide members of a partnership are not employees of the partnership for purposes of the Federal Insurance Contributions Act
, the Federal Unemployment Tax Act, and income tax withholding, and (2) a partner who devotes time and energy in conducting the partnership's trade or business, or who provides services to the partnership as an independent contractor, is considered self-employed and is not an employee.
* The employer contributions are not "wages" and are not subject to withholding for Federal Insurance Contributions Act
(FICA), federal income taxes, or Federal Unemployment Tax Act (FUTA) purposes.
Called the Federal Insurance Contributions Act
(FICA), the fraud was obvious from the very beginning.
As an employer, you are required to withhold certain payroll taxes: Federal Insurance Contributions Act
(FICA) tax, Social Security, Medicare and state income tax.
(i) that the agent or broker is engaged as an independent contractor associated with the person for whom services are performed pursuant to article twenty-one of the insurance law and shall be treated as such for all purposes, including but not limited to federal and state taxation, withholding (other than federal insurance contributions act
(FICA) taxes required for full time life insurance agents pursuant to section 3121(d)(3) of the federal internal revenue code), unemployment insurance and workers' compensation;
Other laws may affect your recordkeeping responsibilities, including the Occupational Safety and Health Act, the Employee Retirement Income Security Act, the Health Insurance Portability and Accountability Act, the Federal Unemployment Tax Act and the Federal Insurance Contributions Act
. It's important to review each of these laws to ensure compliance.
Historically, Federal Insurance Contributions Act
(FICA) taxes, which include social security and Medicare taxes, have been levied exclusively on earned income such as wages, salaries and net self-employment income.