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A payroll is the list of employees of some company that is entitled to receive payments as well as other work benefits and the amounts that each should receive. Along with the amounts that each employee should receive for time worked or tasks performed, payroll can also refer to a company's records of payments that were previously made to employees, including salaries and wages, bonuses, and ...
The Federal Insurance Contributions Act (FICA / ˈ f aɪ k ə /) is a United States federal payroll (or employment) contribution directed towards both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub.L. 111–312 (text), H.R. 4853, 124 Stat. 3296, enacted December 17, 2010), also known as the 2010 Tax Relief Act, was passed by the United States Congress on December 16, 2010, and signed into law by President Barack Obama on December 17, 2010.
1947 Portal-to-Portal Act. In 1946, the US Supreme Court ruled in Anderson v. Mt. Clemens Pottery Co. that preliminary work activities controlled by the employer and performed entirely for the employer's benefit are properly included as working time under the FLSA.
The changes shown below applied In 2011 and 2012 when the rates were temporarily lowered to 4.2% for the employee (but remained at 6.2% for the employer). In 2013, the employee rate returns to 6.2% for a 50/50 split with the employer and a higher Maximum Contribution.
The 2008 American Recovery and Reinvestment Act included a tax credit of $400, lower payroll tax rates, and higher earned income tax credits. The Economic Growth and Tax Relief Reconciliation Act of 2001 reduced business and investment taxes. History. Another way to analyze tax cuts is to have a look at their impact.
The 2010 Tax Relief Act reduced the self-employment tax by 2% for self-employment income earned in calendar year 2011, for a total of 13.3%. This rate will continue for income earned in calendar year 2012, due to the Temporary Payroll Tax Cut Continuation Act of 2011.
Garnishment is a legal process for collecting a monetary judgment on behalf of a plaintiff from a defendant.Garnishment allows the plaintiff (the "garnishor") to take the money or property of the debtor from the person or institution that holds that property (the "garnishee").