What is It?
The two IRS Code Sections listed below form the Payroll Tax Reduction credit to help companies with W2 employees reduce their overall Payroll Taxes. This simple but relatively unknown credit can reduce FICA Taxes, create employee retention, and help drive savings to your bottom line:
IRS Section 125 - Allows employees to choose from a variety of pre-tax benefits, forming the core structure for tax savings
IRS Section 213(d) - Focuses on early detection and comprehensive care to prevent serious health issues