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Model Opgaaf Gegevens Voor De Loonheffingen Studenten En Scholierenregeling LH 202 1B*18FOL  Form

Model Opgaaf Gegevens Voor De Loonheffingen Studenten En Scholierenregeling LH 202 1B*18FOL Form

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what are payroll taxes so payroll taxes were created by the federal income contribution act and what this act sought to do is fund two specific government programs namely the Social Security trust and Medicare Social Security is an entitlement for individuals once they reach a certain age that they can receive again annuals in the form of somewhat of annuity payments from the government based upon what they've contributed over there uh over their lives over their career and Medicare pays for health insurance benefits at that point in time as well once you reach a level of retirement social security also has other benefits associated with disability as well so anyway these two very important governmental programs are funded almost entirely with contributions from an individuals payroll and so that's how they took on the name payroll taxes you'll also hear it referred to as FICA taxes okay now so what are the obligations here well an employer and an employee both

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