Taxability of bonus wages
Bonus wages are taxable for the following per IRS regulations:
- FICA (SS/MED): Taxable
- Federal withholding: Taxable
- State withholding: Taxable
- Local withholding: Taxable
- Federal unemployment: Taxable
- State unemployment: Taxable
Income tax withholding
myPay Solutions can't advise on how taxes should be calculated. Refer to state and federal guidelines or your accountant for more information.