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FICA is the acronym for the Federal Insurance Contributions Act. It mandates that employers withhold a set percentage of an employee's salary each pay period. FICA also requires the employer match the employee's amount and contribute the money to Social Security. This fund provides retirement income , and disability insurance
What else can I help you with?
Who pays FICA taxes?
employers pay the fica tax
What is the FICA withholding rate for 2011?
what is the FICA rate for 2011
What are two of programs that FICA funds?
Social Security and Medicare are funded by FICA
What is the frequency of FICA and witholding depends on the amount taxes are due?
frequency of fica payments
If employee is exempt from FICA is employer also exempt from contributing to FICA for that employee?
Yes.
What is a purpose of a fica tax?
The fica is taken out of your paychecks and added to the Social Security fund.
Is fica taken out on short term disability?
why wasn't fica taken out of std checks
is their an age limit on who pays fica taxes?
is there an age limit on who pays fica taxes
Do you pay FICA on 401k distributions?
No, you do not pay FICA taxes on 401(k) distributions.
Do you pay FICA on 401k withdrawals?
No, you do not pay FICA taxes on 401(k) withdrawals.
Do you pay FICA on your 401k contributions?
No, FICA taxes are not deducted from 401(k) contributions.
What is the purpose of a FICA tax?
A Fica tax has several different purposes that serve different people. A Fica tax serves to finance government educational programs and developmental projects. A Fica tax also provides those who are disabled and/or retired with insurance.
