Title: Federal Income Tax Withholding and FICA (Federal Employment Taxes)

Acronym: FICA

Description: Institutions must report social security and federal payroll withholding for all employees. Generally, they are required to withhold social security and Medicare taxes from employees' wages and pay the employer's share of these taxes. To know how much federal income tax to withhold from employees' wages, institutions should have a Form W-4 on file for each employee. Each quarter, if you pay wages subject to income tax withholding (including withholding on sick pay and supplemental unemployment benefits) or social security and Medicare taxes you must file Form 941

Agency: Federal Government

Direct Agency: Internal Revenue Service (IRS)

2016 IRS Employer's Tax Guide: http://www.irs.gov/pub/irs-pdf/p15.pdf

Due Date: Ongoing

Due Month: Ongoing

Status: Active

Status Date: 0000-00-00