Various sections of the Internal Revenue Code determine what are taxable wages and plans which can be excluded from taxable wages. For Ball State University, the following may be deducted from gross earnings to determine taxable wages and tax withholdings. Federal Taxable Wages exclude: Premium Conversion (Insurances) Flexible Spending Accounts Pre-Tax Parking Tax Deferred Annuities SS/Medicare Taxable Wages exclude: Premium Conversion (Insurances) Flexible Spending Accounts Pre-Tax Parking You can also visit the IRS website for more information.
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