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How exactly do you propose to do that? Your employer is legally required to withhold it from your taxes; you don't really get a choice in the matter. You might think you could somehow talk your employer into not doing it, but there's something called the Trust Fund Recovery Penalty that means that if an employer who is required to withhold earnings and use it to pay FICA taxes does not do so, then the employer is responsible for making up the difference. This penalty may NOT be discharged in bankruptcy, either. So good luck with that.
What else can I help you with?
What is MED FICA tax?
MED tax is the tax that is paid to Medicare. FICA tax is the tax paid to pay for Social Security benefits.
Is fica paid equally by employer and employee?
Yes
Are wages paid to a social security recipient subject to FICA withholding?
are employees that are currently receiving social security and medicare benefits subject to fica withholding
You are a full time student can you get back what you paid into fica on your tax return?
No. Your 'occupation' is unimportant.
Is a repossession marked on your credit report when the car is repossessed or when the loan is paid off?
Think about it. IF the lender waited until the loan was paid off,zillions of repos would NEVER be reported. Sooo, they report them as they happen.
Can a child receive Social Security benefits for a deceased parent who never worked?
No. Unfortunately, survivor benefits are only paid if the deceased earned wages and accumulated sufficient credits through FICA taxes.
Bill earned 49500.00 last year How much did he bring home after he paid FICA?
45713.25
Is FICA - Med withheld when a person is on Medicare?
I am over 65, and on Medicare. I am also still working, and being paid wages. FICA- Med is still withheld from my paycheck. You should expect that as well.
What tax is matched by your employer?
Many are paid in whole or part by the employer. FICA is split 50/50
Do you have to pay social security on personal injury settlement?
No. Social Security (FICA) is paid on earned income.
Why doesn't everyone pay FICA taxes on all reported income as do low income earners?
Your premise is wrong. FICA is paid on FICA wages (different than reportable income in many ways), and is paid by everyone up to a certain FICA wage limit, which increases with cost of living...currently about 102K a year. If your seldf employed, you pay essentially 2x as much as an employee...because the company of an employee pays half the total 15.3% total tax. (So the owner of your company pays 7.65% FICA for each of his employees).
Can a spouse receive Social Security from a dead spouse who never worked?
No. A widow or widower can only receive survivor benefits if the spouse was employed or self-employed, paid FICA taxes, and accumulated sufficient work credits.
