A employee wants to cashout her accrued annual leave. Is 401k payable on this cashout? She also only wants to pay the 22% tax rate?
Make certain to stroke a separate check (do not include in regular wages) and you can and should deduct a flat 22% for FWT https://www.irs.gov/pub/irs-pdf/p15.pdf see section on supplemental wages.
Other taxes and, as far as I can tell, 401k deductions remain the same as if it was regular wages
A employee wants to cashout her accrued annual leave. Is 401k payable on this cashout? She also only wants to pay the 22% tax rate?
Make certain to stroke a separate check (do not include in regular wages) and you can and should deduct a flat 22% for FWT https://www.irs.gov/pub/irs-pdf/p15.pdf see section on supplemental wages.
Other taxes and, as far as I can tell, 401k deductions remain the same as if it was regular wages
