However, in the Canada-U. S tax convention, Canada has specifically agreed to give a foreign tax credit for payments under the Federal Insurance Contributions Act, more commonly known as FICA taxes. |
They have learned that other universities in the state system have been withholding amounts for FICA for years in situations involving early retirement buyout packages for high-level administrators. |
The minister is paying FICA instead of SECA and the IRS could require that this be corrected retroactively. |
In most instances, the employer's share of FICA tax is equal to the employee's share. |
So in accordance with our tax treaty with the U. S., we will continue to allow a foreign tax credit for FICA taxes. |
The FICA representatives ensure efficient and effective implementation of the Flemish policy on international cooperation in the partner countries. |