Information literacy, while showing significant overlap with information technology skills, is a distinct and broader area of competence. Increasingly, information technology skills are interwoven with, and support, information literacy.
The law requires that payroll taxes must be withheld from an employee's paycheck. Learn how to calculate and report deductions. The law requires that payroll taxes must be withheld from an employee's paycheck. 1  Employers must then transmit these withholdings to various tax agencies. Payroll tax deductions include the following: 2  Federal income tax withholding (based on withholding tables in Publication 15)
Medicare. Medicare taxes are another mandatory payroll tax deduction. Medicare taxes are FICA taxes that fund state and federal medical and hospital insurance services. For 2011, the employee tax rate for Medicare taxes is 1.45 percent. Unlike Social Security taxes, there is no wage base limit for Medicare taxes.