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Supreme Court holds severance pay subject to FICA

USA - March 25 2014 The Supreme Court has ruled that severance pay is subject to the Social Security (FICA) withholding tax, dashing the hopes of many employers who had…

IRS announces special procedures for correcting overwithholding on same-gender spouse benefit

USA - September 25 2013 On Monday, in Notice 2013-61, the IRS took the next step to implement the Supreme Court's decision in Windsor v. United States striking down the…

U.S. Supreme Court ruling affects benefits for same-gender spouses

USA - June 28 2013 Wednesday's decision by the U.S. Supreme Court in United States v. Windsor striking down the federal Defense of Marriage Act (DOMA) has many…

Jonathan D. Karelitz, Joy Sellstrom, Fredric S. Singerman

New commodity pool rules may require immediate action by 401(k) plans

USA - February 21 2013 New regulations adopted in 2012 by the Commodity Futures Trading Commission ("CFTC") may require 401(k) plans that had previously registered as…

Severance payments and FICA - the saga continues

USA - September 19 2012 On September 7, the Court of Appeals for the Sixth Circuit upheld the decision in United States v. Quality Stores, Inc., finding that severance pay is generally not subject to Social Security and Medicare taxes under the Federal Insurance Contributions Act, or FICA.