(DOWNLOAD) "Retired Tenured Professors' Early Retirement Plan Compensation Subject to Federal Insurance Contributions Act Taxation." by Suffolk University Law Review # Book PDF Kindle ePub Free
eBook details
- Title: Retired Tenured Professors' Early Retirement Plan Compensation Subject to Federal Insurance Contributions Act Taxation.
- Author : Suffolk University Law Review
- Release Date : January 22, 2008
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 285 KB
Description
Retired Tenured Professors' Early Retirement Plan Compensation Subject to Federal Insurance Contributions Act Taxation--University of Pittsburgh v. United States, 507 F.3d 165 (3d Cir. 2007) The Federal Insurance Contributions Act (FICA) funds a national system of old age, survivors, disability, and hospital insurance, commonly known as social security and Medicare. (1) To achieve its purpose, FICA imposes a tax on both employers and employees at a level corresponding to a percentage of the employee's wages. (2) In University of Pittsburgh v. United States, (3) the United States Court of Appeals for the Third Circuit considered whether the payments of the University of Pittsburgh (University) pursuant to an early retirement plan (ERP) for its tenured professors constitute taxable "wages" under FICA. (4) The Third Circuit held that FICA taxation applies to ERPs because such benefits are compensation for services and thus constitute wages. (5)
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