FICA Add-on Tax Credit Refund
A payroll tax refund for your company
is the likely results of the “FICA Add-On Payroll Request” which you may have just received from MCM. Of course, this depends on the wage amount for the employees listed on the request.
To save time I encourage you to watch this 7 minute video
on the FICA Add-on Payroll Request process.
How was the FICA add-on tax credit refund created?
In 2010 the HIRE Act’s FICA payroll tax credit was required to be coordinated with the WOTC. That meant MCM held out, from the FICA Credit, those employees on whom WOTC applications were submitted. Nearly 2 years have past since the HIRE Act of 2010. So, MCM is assuming those not yet qualifed for WOTC can now be claimed for the FICA credits. However, MCM will continue to coordinate the WOTC with the FICA credits of 2010 and keep your programs fully compliant.
Watch this extra-credit video
for 9 minutes of “nuts-and-bolts” level details of claiming your FICA Refund. If you already viewed the first video, then you know more than enough to complete your FICA Add-on Payroll Request.
FICA Add-On Back-up Package
To protect your refund, your FICA Add-on Payroll Tax credits, a back-up package containing; your new 941X, scans of each applicable FICA affidavit captured in 2010, and your new FICA Add-on Tax Refund Detail Report will be provided.