Under the 2010 Tax Relief Act employees will pay only 4.2% Social Security tax on wages up to $106,800 (which is the limit on taxable wages for Social Security tax purposes). The employer tax rate for Social Security remains unchanged…
If you haven't been taking advantage of the the credit on Form 941 for the employer's share of Social Security taxes for qualified employees you should immediately. This change was passed earlier in the year in the HIRE Act of…
The day before last one of our clients brought to us a very interesting issue that deals with medical providers. The issue deals with FICA taxes (Social Security & Medicare) withheld from medical residents paychecks while they were in residency. …