(ii) the determination shall be made without regard to subsections (a)(4) and (b)(2) of section 1563. The term “international organization” has the meaning provided such term by section 3581(3) of title 5, United States Code. (B) would not be employment (as so defined) without the application of such paragraphs. (ii) All agencies and instrumentalities of a political subdivision of a State (as so defined) shall be treated as a single employer and shall not be treated as described in clause (i).
- A partnership or any other entity (other than a corporation) shall be treated as a member of a controlled group of entities if such entity is controlled (within the meaning of section 954(d)(3)) by members of such group (including any entity treated as a member of such group by reason of this sentence).
- Amendment by section 1108(g)(7) of Pub.
- 92–336 (set out as 1973 Amendment note hereunder) substituting “$13,200” for “$12,600”.
- 98–369, div.
(i). 837, §410, designated existing provisions as par. (1) and added par. 836, §201(b), excluded payments made to a woman after she attains the age of 62. 88–272 substituted “is a plan described in section 403(a), or” for “meets the requirements of section 401(a)(3), (4), (5), and (6)” in subpar.
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“(1) Except as provided in paragraph (2), the amendments made by this section [amending this section, section 3306 of this title, and section 409 of Title 42] shall apply to remuneration paid after December 31, 1983. Amendment by section 67(c) of Pub. 98–369 applicable to payments under agreements entered into or renewed after June 14, 1984, in taxable years ending after such date, with contracts entered into before June 15, 1984, which are amended after June 14, 1984, in any significant relevant aspect to be treated as a contract entered into after June 14, 1984, see section 67(e) of Pub. 98–369, set out as an Effective Date note under section 280G of this title. “(B) Reporting requirement.—The amendment made by paragraph (1)(C) [amending section 6050A of this title] shall apply to remuneration paid after December 31, 1996.” (k)(1)(E).
103–66 which directed the amendment of this section by substituting “contribution and benefit base limitation” for “applicable contribution base limitation” without specifying where the substitution was to be made, was executed by making the substitution in subsecs. (a) to (d) to reflect the probable intent of Congress. “(2) remuneration which is disbursed by such faculty practice plan to a health professional employed by both such entities shall be deemed to have been actually disbursed by such university as a common paymaster and not to have been actually disbursed by such faculty practice plan. Federal employees not to be deemed subject to Federal retirement system for purposes of subsec. (b)(5)(G) of this section if employees are contributing reduced amounts by reason of Federal Employees’ Retirement Contribution Temporary Adjustment Act of 1983, see section 2601(c) of Pub.
What are the components of FICA?
102–318 applicable to distributions after Dec. 31, 1992, see section 521(e) of Pub. 102–318, set out as a note under section federal insurance contributions act 402 of this title. Amendment by section 802(c)(1) of Pub. 108–357 effective Mar. 4, 2003, see section 802(d) of Pub.
98–21, §321(a)(1), substituted “Agreements entered into by American employers with respect to foreign affiliates” for “Agreements entered into by domestic corporations with respect to foreign subsidiaries” in heading. 98–21, §324(a)(3)(D), substituted reference to subpar. (A) of par.
Federal Insurance Contributions Act (FICA)
Employers are responsible for calculating their share of FICA taxes and remitting these payments to the IRS. The employer’s contribution rates are the same as the employee’s rates for both Social Security and Medicare taxes. The Medicare tax rate is 1.45% for both employees and employers, with no wage base limit. This means that Medicare taxes are withheld from an employee’s entire wages, regardless of the amount earned. As of 2024, the Social Security tax rate is 6.2% for both employees and employers, up to a wage base limit of $168,600. This means that once an employee’s wages reach this limit, no additional Social Security taxes are withheld for the remainder of the year.
98–369, §2601(b)(1), in amending subpar. The aggregate amount allowed as a credit under this subsection for all qualified veterans for any period with respect to which tax is imposed under subsection (a) shall not exceed the amount of the tax imposed by subsection (a) on wages paid with respect to employment of all employees of the organization during such period. 89–97, §321(b), divided the total tax imposed under the entire section upon income through a tax equal to percentages of wages into two separate taxes by dividing the section into subsecs. (a) reflecting the tax for old-age, survivors, and disability insurance and subsec. (b), without regard to the provisions of section 3121(b)(9) insofar as it relates to employees; increased from 41/8 percent to 4.20 percent the rate of total tax imposed by the entire section upon wages received during calendar year 1966 (resulting from a tax of 3.85 percent under subsec. (a) and 0.35 percent under subsec.
The total bill is split between the employer and the employee. The Secretary shall waive any penalty under section 6656 for any failure to make a deposit of any applicable employment taxes if the Secretary determines that such failure was due to the reasonable anticipation of the credit allowed under this section. The amount of credit which would (but for this subsection) be allowed under this section shall be reduced (but not below zero) by the aggregate payment allowed to the taxpayer under paragraph (2).
