FICA
8
6.4
- noun
- /ˈfiːkə/
- US
- Currently, an individual does not have to pay FICA on annual earnings above $106,800.
- FICA tax
- FICA taxes
Loading YouTube…
Watch on YouTubeI wonder in my life, something like FICA that's important to me.
- I wonder in my life, something like FICA that's important to me.
Examples
-
As a result, they overpaid their FICA taxes because the employer did not pay its share.
Blog text (26) -
A U.S. citizen sent to Canada remains subject to the U.S. FICA requirements during the first five years of a Canadian assignment.
Academic text (1990) -
There is no way that people who paid close to maximum FICA will ever get it back.
Blog text (27) -
When you work for yourself, you double the fun of paying the FICA tax.
Blog text (13) -
Social Security is paid with FICA taxes, which we all pay into.
Blog text (8) -
Few people realize that FICA taxes are only half of the equation.
Blog text (12) -
Employees were assumed to pay both the "employer" and "employee" share of FICA taxes.
Blog text (21) -
The resulting loss of income, FICA, and FUTA tax revenue has been estimated at approximately $1.5 billion in 1989.
Academic text (1994) -
The Census imputes FICA tax values into the CPS based on reported earnings.
Blog text (21) -
Many people are confused about how much FICA is deducted from their paychecks.
Synonyms
4
4.4
A tax taken from an employee's pay by the employer and sent to the government
Surface Forms
Etymology
FICA comes from the first letters of a United States law name, Federal Insurance Contributions Act, and the word Contributions there means 'payments'. So, FICA today is the tax taken from paychecks, paid by workers and their employers, to fund 'insurance' programs like Social Security and Medicare.