News & Events

News & Events

6.19.2008

Foreign Subsidiaries of U.S. Companies May Be Liable for FICA Taxes

Bookmark and Share

On June 17, 2008, the Heroes Earnings Assistance and Relief Tax Act of 2008 (“HEART”) was signed into law. HEART, which generally extends various tax relief measures to members and veterans of the U.S. armed forces, amends Section 3121 of the Internal Revenue Code of 1986 (the “Code”) to extend liability under the Federal Insurance Contributions Act (“FICA”) to certain foreign employers. View full article (PDF).