FICA

(redirected from Federal Insurance Contributions Act)
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  • noun

Words related to FICA

a tax on employees and employers that is used to fund the Social Security system

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References in periodicals archive ?
The Federal Insurance Contributions Act (FICA) tax was labeled a contribution, like an insurance premium, and people knew they had to work a certain period of time to become eligible.
As part of the Federal Insurance Contributions Act (FICA), a tax is imposed on employees and employers up to a maximum amount of employee wages.
3401(c)-1 of the Employment Tax Regulations, which relate to the Federal Insurance Contributions Act, the Federal Unemployment Tax Act, and federal income tax withholding, respectively.
Reduce the Federal Insurance Contributions Act (FICA) tax
Employment taxes for these purposes include the employer and employee portion of Federal Insurance Contributions Act (FICA) taxes, Federal Unemployment Tax Act (FUTA) taxes, Railroad Retirement Tax Act taxes (RRTA), and federal income taxes withheld from wages.
In upholding the decision by the District Court of Southern Iowa, the Eighth Circuit agreed that the salary to the sole shareholder/employee used to compute Federal Insurance Contributions Act (FICA) taxes was unrealistically low.
The cash wages you pay your employees are subject to payroll taxes, including the Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) taxes, as well as state unemployment taxes and workers' compensation.
There have been 11 years in which Social Security - under the Federal Insurance Contributions Act or FICA - took in less than it paid out.
The covered employment tax laws include federal and state income tax withholding (ITW) laws; the Federal Insurance Contributions Act (FICA), which encompasses Social Security and Medicare taxes; the Federal Unemployment Tax Act (FUTA); and state unemployment insurance (SUI) tax laws.
3 306(i)-1 and 31,3401(d)-1 of employment tax regulations, relating to the Federal Insurance Contributions Act (FICA), the Federal Unemployment Tax Act (FUTA) and the Collection of Income Tax at Source on Wages (chapters 21, 23 and 24 of the Internal Revenue Code).
You want to save the Federal Insurance Contributions Act - FICA or Social Security.
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