Federal Insurance Contributions Act

Federal Insurance Contributions Act
(abbr FICA)
the US law by which money is automatically taken from an employee’s regular pay as a tax for social security.

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Universalium. 2010.

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  • Federal Insurance Contributions Act — (FICA) USA A federal law that imposes taxes on both employers and employees (26 U.S.C. §§ 3101 3128). Taxes paid under FICA include the Old age, Survivors and Disability Insurance (OASDI) tax, used to fund Social Security benefits, and the… …   Law dictionary

  • 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

  • (the) Federal Insurance Contributions Act — the Federal Insurance Contributions Act [the Federal Insurance Contributions Act] (abbr FICA) the US law by which money is automatically taken from an employee’s regular pay as a tax for ↑social security …   Useful english dictionary

  • Federal Insurance Contributions Act — Federal Act imposing social security tax on employees, self employed, and employers. Under the F.I.C.A. the employer matches the tax paid by the employee. These taxes fund the social security and medicare programs …   Black's law dictionary

  • Federal Insurance Contributions Act — Federal Act imposing social security tax on employees, self employed, and employers. Under the F.I.C.A. the employer matches the tax paid by the employee. These taxes fund the social security and medicare programs …   Black's law dictionary

  • Federal Insurance Contributions Act — U.S. federal law requiring employers to withhold wages from employees for payments to the Social Security and Medicare programs, FICA …   English contemporary dictionary

  • Federal Insurance Contributions Act - FICA — A U.S. law requiring a deduction from paychecks and income that goes toward the Social Security program and Medicare. Both employees and employers are responsible for sharing the FICA payments. FICA stipulates that there is a maximum that can be… …   Investment dictionary

  • Self Employed Contributions Act Tax - SECA Tax — A form of taxes that self employed business owners must pay based on their net earnings from self employment. Self Employed Contributions Act Tax (SECA Tax) was first imposed by the SEC Act of 1954. Similar to the Federal Insurance Contributions… …   Investment dictionary

  • Social Security Act — Federal legislation creating the Social Security Administration (q.v.). 42 U.S.C.A. No. 301 et seq. See also Federal Insurance Contributions Act …   Black's law dictionary

  • Insurance in the United States — refers to the market for risk in the United States of America. Some main features of insurance could be said to be, *the benefit provided by a particular kind of indemnity contract, called an insurance policy; *that is issued by one of several… …   Wikipedia

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