Written by Reed Tinsley |
August 6, 2008
Court Orders $2.5M FICA Refund for Medical Facility's Student Exemption
A U.S. district court has ordered the government to refund $2.5 million in FICA taxes paid by a medical facility on its residents’ stipends, finding that the residents are excepted from FICA taxation under section 3121(b)(10) because the facility qualified as a school, college, or university and the residents were students.
Citations: United States v. Mount Sinai Medical Center of Florida Inc.; No. 1:02-cv-22715
About the Author
Reed Tinsley CPA
This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on
accounting & tax,
practice management, and
financial planning.
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