Fica Tax
/ˈfiːkə tæks/
Definitions
- (n.) A United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare programs.
Employers are required to withhold FICA tax from employees' wages for Social Security and Medicare.
Forms
- fica tax
Related terms
See also
Commentary
FICA tax is a mandatory contribution deducted from wages and matched by employers; understanding its dual components—Social Security and Medicare—is essential for compliance and dispute resolution.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.