Learn what is not considered wages by the IRS, thereby exempting those monies from FICA tax.

This information will be beneficial to you in helping reduce employer liability for FICA taxes on money that is not wages. You already know that any cash or noncash remuneration received for employment, unless specifically exempt, is considered wages subject to the FICA tax. This material will examine the importance of determining whether wages are not FICA wages. Learn about the various wages that are not considered FICA wages, and how to classify those non-FICA wages and their effects on retirement benefits. Recent litigation issues will also be discussed to help you determine what should be considered non-FICA wages.

 Learning Objectives

• You will be able to define FICA and non-FICA wages.
• You will be able to recognize the importance of determining non-FICA wages.
• You will be able to review examples of non-FICA wages.
• You will be able to discuss classification on non-FICA wages effect on retirement benefits.

 Faculty