Learn how to calculate payroll taxes in these easy steps. Follow our guide for accurate tax deductions, tips, and tools to simplify payroll processing. Calculating your employees’ gross pay is ...

Later seeking a refund of those taxes, CSX argued that its payments to employees fell outside the definition of wages for FICA purposes and the definition of compensation for RRTA purposes. Rather, ...

The FUTA tax is 6% of each terminated employee's FUTA wages, but this typically results in a net 0.6% tax rate if you qualify for applicable tax credit reductions, according to the IRS. Only the ...

In 2023, legislators enacted a 0.7% payroll tax to take effect in 2026. The tax hasn’t even hit employers yet, but lawmakers already have boosted the rate to 0.88% since then.

Is FICA tax the same as Social Security? No, FICA and Social Security taxes are not the same, but they’re related. Social Security taxes are the 6.2% taken out of your paycheck each month (up to ...

The Social Security payroll tax rate is 12.4%, with workers paying 6.2% through paycheck deductions. Employers pay the other 6.2%. For 2025, workers will pay 6.2% on earnings up to $176,100, ...