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Form 941-SS Sterling Heights Michigan: What You Should Know

IRM 5.11.18.0.6.3, Social Security and Medicare Tax Related FAQs, IRM 5.11.18.0.6.1. Pay the Social Security and Medicare tax on wages, salaries and other income earned by workers covered by both Internal Revenue Code section 162(m) and Internal Revenue Code section 3402. Under section 3402, social security taxes are deducted from your employee's regular wages and then applied to the worker's Social Security balance. If the worker withdraws these wages or salary without paying them to you, you, the employer, must withhold and remit the social security portion of the earnings (without regard to whether tax is withheld from the amount in question). The withholding process must be completed on forms SS-7, DS-11 and SS-8. Pay the Social Security and Medicare tax on wages and other income for workers covered by both Internal Revenue Code section 162(m) and Internal Revenue Code section 1607. Under section 1607, income derived by employees for purposes of social security and Medicare taxes, including social security income on wages (including wages subject to withholding from social security wages), is subject to taxation. Under section 162(m), if you do not deduct Social Security or Medicare taxes from your employee's wages within the applicable time periods, an additional 4.65 percent Social Security income tax is imposed on the withheld wages. If you do not use the provisions of §162(m) to tax social security wages or salary, but use section 170(b), you cannot deduct the social security tax withheld from your employees' wages or salary. To figure the tax, you must first obtain a TIN, and then use it to determine the employee's social security taxable income. Note that you must use the appropriate social security computation unit (CSU) code to derive the amount of social security wages. Social security wages are computed by dividing all applicable withholding, including social security taxes, by your social security compensation threshold. A CSU code is a 10-digit number assigned to all employees and covered workers by the Social Security Administration. A TIN is issued by the Social Security Administration on application form SS-5, Application for Taxpayer Identification Number (TIN). A TIN is required to open an account with the Social Security Administration and to open a tax return.

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