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READINGSMASSES INTENTIONSREADINGS FOR THIS SUNDAY FIFTEENTH SUNDAY IN ORDINARY TIMELESS INTENTIONS FIFTEENTH SUNDAY IN ORDINARY TIME JULY 10, 2016, SAT 7/9 4:00 First Reading: Deuteronomy 30:1014 Moses
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Social Security and Medicare tax, which is also known as Federal Insurance Contributions Act (FICA) tax, are combined on the Form W-2 and reported in Box 4 as Social Security tax and Box 6 as Medicare tax. The total Social Security tax is 6.2% of wages up to a maximum limit, and the total Medicare tax is 1.45% of all wages. An additional Medicare tax rate of 0.9% applies to wages over a certain threshold.
Employers are required to report and withhold Social Security and Medicare taxes from employees' wages and must file Form W-2, Wage and Tax Statement, which includes the information on sat 79.
Employers must accurately report the Social Security and Medicare taxes withheld from employees' wages on Form W-2 in Box 4 for Social Security tax and Box 6 for Medicare tax.
The purpose of sat 79 is to report and withhold Social Security and Medicare taxes from employees' wages to fund the Social Security and Medicare programs.
The information reported on sat 79 includes the total amount of Social Security and Medicare taxes withheld from employees' wages.
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