United States: District Court Rules On Special Timing Rule For FICA Tax Withholding On Deferred Compensation
In Davidson v. Henkel, No. 12-cv-14104 (E.D. Mich. 2015), a federal district court ruled that an employer violated the terms of its nonqualified deferred compensation plan by failing to withhold Federal Insurance Contribution Act (FICA) taxes using the “special timing rule.” As a result, the employer was liable to the plan participants for the additional FICA taxes owed on the deferred compensation.
There are two timing rules for determining when compensation is included as wages […]