Here's a look at what the FICA tax is and how it is calculated. FICA stands for the Federal Insurance Contributions Act. This law mandates that employers withhold taxes from employee pay and make ...

FICA is an acronym for the Federal Insurance Contributions Act, a federal payroll tax law dating back to 1935, the same year the Social Security Act was passed. There's a close relationship ...

Which means it's funded by taxpayers: We all pay 1.45% of our earnings into FICA - Federal Insurance Contributions Act, if you're into deciphering acronyms - which go toward Medicare. Employers ...

Federal Insurance Contribution Act (FICA) Taxes are United States federal payroll taxes levied to fund the Social Security and Medicare system. FICA Taxes burdens are divided between employers and ...

Contributions take the form of the Federal Insurance Contributions Act (FICA) taxes that are withheld from most paychecks. Medicare benefits are commonly considered part of Social Security ...

Social Security Tax (FICA) Definition: A tax paid by workers and employers on wages earned that supports the benefit programs under the Social Security System The Federal Insurance Contributions ...