Youâd be forgiven for thinking that 350 on the dial means 350 in the oven. Youâd be wrong, though. When you set an oven to 350 degrees, there isnât a single spot inside of it that stays at 350 degrees for the duration of a bake session.
Employees of foreign governments are generally exempt from paying Social Security taxes on income paid to them as a result of their official responsibilities. As long as the foreign government employee is working in an official capacity on official business related to his employment, he does not have to pay Social Security on his pay.
Many employee fringe benefits are exempt from payroll taxes, both Federal Insurance Contributions Act (FICA) or Federal Unemployment Tax Act (FUTA) taxes, as long as certain requirements are met. And because they are not taxable to the employee for income tax purposes, there is no need to withhold income tax on the value of the payments. There are certain fringe benefits that are not totally exempt from payroll taxes. For example, an employee fringe benefit may be exempt from withholding, but still subject to FICA and FUTA taxes.