FICA tax

FICA tax
Short for Federal Insurance Contributions Act tax, it is a payroll tax that incorporates the Social Security tax and Medicare tax. The FICA tax is 15.3% of an individual's earned income up to a certain limit (called the Social Security Wage Base) that increases each year, and then 2.9% of wages without limit.
Category: Business, LLCs & Corporations
Category: Personal Finance & Retirement → Taxes

Nolo’s Plain-English Law Dictionary. . 2009.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • Tax forms in the United States — are used by taxpayers and tax exempt organizations to report financial information to the Internal Revenue Service (IRS). They are used to report income and calculate taxes owed to the government of the United States. TOC Federal tax forms 990… …   Wikipedia

  • Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 — Effective (Various dates for different provisions) Citations Public Law Public Law 111 312 Stat …   Wikipedia

  • FICA — / fī kə/ abbrFederal Insurance Contributions Act Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. FICA abbrv. Fe …   Law dictionary

  • FICA (disambiguation) — FICA may stand for:* Folded Inverted Conformal Antenna * Federal Insurance Contributions Act tax * Federation of International Cricketers Associations * International Capoeira Angola Foundation (Portuguese: Fundacao International de Capoeira de… …   Wikipedia

  • FICA — noun a tax on employees and employers that is used to fund the Social Security system • Hypernyms: ↑income tax * * * /fuy keuh, fee / Federal Insurance Contributions Act: U.S. government legislation under which taxes are levied for the support of …   Useful english dictionary

  • Tax protester history — A tax protester, in the United States, is a person who denies that he or she owes a tax based on the belief that the constitution, statutes, or regulations do not empower the government to impose, assess or collect the tax. The tax protester may… …   Wikipedia

  • FICA (homonymie) — Cette page d’homonymie répertorie les différents sujets et articles partageant un même nom.   Sigles d’une seule lettre   Sigles de deux lettres   Sigles de trois lettres > Sigles de quatre lettres …   Wikipédia en Français

  • Federal Insurance Contributions Act tax — The Federal Insurance Contributions Act (FICA) tax (pron en|ˈfаɪkə) is a United States payroll (or employment) tax [The FICA tax is imposed under the Federal Insurance Contributions Act, which is codified as usctc|26|21] imposed by the federal… …   Wikipedia

  • Payroll tax — generally refers to two kinds of taxes: Taxes which employers are required to withhold from employees pay, also known as withholding, Pay As You Earn (PAYE) or Pay As You Go (PAYG) tax; and taxes which are paid from the employer s own funds and… …   Wikipedia

  • Income tax in the United States — UStaxationThe federal government of the United States imposes a progressive tax on the taxable income of individuals, partnerships, companies, corporations, trusts, decedents estates, and certain bankruptcy estates. Some state and municipal… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”