The Certified Payroll Professional Corner: Involuntary Deductions
ThomsonReuters
JULY 1, 2022
In certain cases, an employer may wish to pay an employee’s federal income tax withholding (FITW) and FICA (Social Security and Medicare) taxes without deducting them from the employee’s pay or getting a reimbursement from the employee. 100% – 29.65% (7.65% + 22%, the federal tax withholding rate for bonuses) = 70.35%.
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