Field Description - FICA Withholding Amount - Medicare
The FICA Withholding Amount - Medicare is the dollar amount withheld from the employee's paycheck for Medicare FICA taxes. Check Entry automatically calculates the amount in the Standard Deductions Area.
The calculation is based on one of the following tax tables:
FEDM2: Federal and FICA tax for married employees with Medicare-Only FICA.
FEDS2: Federal and FICA tax for single employees with Medicare-Only FICA.
The following fields affect the result of the calculation:
Marital Status Code: Determines which table to use.
FICA Code: Determines which table to use.
Deduction Exemptions: For FICA.
Other Pay Exemptions: For FICA.
WKn Table: Number of pay periods per year.
Matched Annuity: Amounts increase the Gross Pay for the calculation.
Format: 5.2 numeric