US Federal Tax codes?
Matthew T. Jachimstal
Mon, 30 Apr 2001 19:44:18 -0400 (EDT)
On Mon, 30 Apr 2001, Stan Brown wrote:
> I realize this is a bit off topic, but I figure some accounting gurus hang out here
> I'm just seting up to use GNuCash to help organize my finces, and I'm a little
> I have created a payroll account, and i was planing on entring my payroll
> information as a split transaction. However I am a bit confused. My employer seesm
> to list _3_ different US Federal taxes (I thought there were just 2 income tax, and
> Social Security). They are classified as:
> Fed Witholding (Income tax right)
> Fed MED/EE (???)
> Fed OASDD/EE (Soscil security ?).
Fed withholding, Medicare and Social Security (also known as Old Age,
Survivors, Death and D-something or other:OASDD).
Medicare and SS together are (I think, it's been a while since I prepared
payroll) together referred to as FICA. Each is calculated at a seperate
rate, and has different wage caps (I think Medicare is unlimited now, or is
it SS, anyway). The last place I ran payrolls showed each seperate and a
total FICA amount. The checks I receive now don't show a total amount.
What the "EE" means, I haven't a clue.
Matthew - (getting a bit too (paranthetical) for my (own) good) :)
Matthew T. Jachimstal, Software Engineer | Phone: (419) 861-3331
Unique Systems, Inc. | FAX: (419) 861-3340
6920 Spring Valley Drive, Suite 106 | http://www.uniqsys.com
Holland, OH 43528 | mailto:email@example.com