The federal law which requires employers to withhold a portion of employee wages and pay them to the government trust fund which provides retirement benefits. An acronym for Federal Insurance Contributions Act. More commonly known as social security.
Related information about FICA:
- Federal Insurance Contributions Act tax - Wikipedia, the free ...
The FICA tax is considered a regressive tax on income (with no standard deduction ... (Self-employed people are responsible for the entire FICA percentage of ...
- What is FICA?
Under the Federal Insurance Contributions Act (FICA) 12.4% of earned income up to an annual limit must be paid into Social Security, and an additional 2.9% ...
- What is the meaning of FICA
Social Security payroll taxes are collected under the authority of the Federal Insurance Contributions Act (FICA). The payroll taxes are sometimes even called ...
- FICA & SECA Tax Rates
Tax rates for each Social Security trust fund · Maximum taxable earnings. Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program and ...
- Payroll Taxes: Basic Information for All Employers
FICA stands for the Federal Insurance Contributions Act. The FICA tax consists of both Social Security ... Together both halves of the FICA taxes add up to 15.3%.
- Federal Insurance Contributions Act (FICA) Definition | Investopedia
A U.S. law requiring a deduction from paychecks and income that goes toward the Social Security program and Medicare. Both employees and employers are ...
- FICA – Wage Limits and Tax Rates
Feb 27, 2012 ... FICA – Wage Limits and Tax Rates. To determine the gross pay subject to social security tax withholding, up to the wage base limit, you must ...
- What is the fica tax rate for employee and emplorer for 2012 - USA ...
Feb 13, 2012 ... When you work for an employer or are self-employed, you must pay payroll taxes that fund Social Security. These taxes are collected under the ...