Reporting & Filing Requirements

Topics

February 1, 2008

Early Retirement Payments to Former Tenured Faculty Members Are Subject to FICA

The Third Circuit held that payments under several early retirement plans made by a university to former tenured faculty members were compensation for services subject to the FICA tax.

November 1, 2007

Amended Regulations on the Student Exception from FICA Are Invalid

The Mayo Clinic (Mayo) and Mayo Foundation for Medical Education & Research (MFMER) are nonprofit corporations in Minnesota. MFMER acts as Mayo’s agent for purposes of paying withholding and FICA taxes for Mayo’s employees.Mayo operates graduate medical education programs for medical residents and fellows (residents). Most of these programs are

October 1, 2007

Distinguishing Between Independent Contractors and Employees

Before a business entity pays for services rendered, it should consider this: Is it paying a contractor or has it hired an employee? This question arises every time a business pays a person for services rendered. At times the answer is clear, but often the minute details will present a