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  • Federal Insurance Contributions Act (FICA): What It Is, Who Pays
    The Federal Insurance Contributions Act (FICA) is a U S payroll tax deducted from workers' paychecks that funds the Social Security and Medicare programs
  • What Is the FICA Tax? | Retirement - U. S. News
    FICA stands for the Federal Insurance Contributions Act This law mandates that employers withhold taxes from employee pay and make matching contributions to fund the Social Security and Medicare
  • What is FICA? - The United States Social Security Administration
    Think about FICA like this The money you pay in taxes is not held in a personal account for you to use when you get benefits Today’s workers help pay for current retirees’ and other beneficiaries’ benefits
  • FICA Tax: Rates, How It Works in 2025 - NerdWallet
    FICA is a payroll tax, and it's short for the Federal Insurance Contributions Act The law requires employers to withhold a certain percentage of an employee’s wages to help fund Social Security
  • What Is FICA Tax? 2025 Rates and How It’s Calculated - Paycom
    FICA is a U S federal payroll tax that is automatically deducted from an employee’s paycheck But exactly how much is FICA tax? That depends on if you’re an employee or employer FICA combines Social Security and Medicare taxes for a total rate of 15 3%, but the cost is split between each party
  • Federal Insurance Contributions Act - Wikipedia
    The Federal Insurance Contributions Act (FICA ˈ f aɪ k ə ) is a United States federal payroll (or employment) tax payable by both employees and employers to fund Social Security and Medicare [1] —federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers
  • What Is FICA Tax? | H R Block®
    At a glance FICA tax is a federal payroll tax that funds Social Security and Medicare programs in the U S The current FICA tax rate is 6 2% for Social Security and 1 45% for Medicare, totaling 7 65% for employees, with employers matching these contributions
  • What does FICA mean? Tax rate and your paycheck, explained. - USA TODAY
    Social Security taxes are the 6 2% taken out of your paycheck each month (up to $168,600, the 2024 taxable maximum) while FICA refers to the combination of Social Security and Medicare taxes
  • What is FICA Tax ? | What Does FICA Consist Of?
    FICA stands for the Federal Insurance Contributions Act, a law that mandates payroll taxes to fund Social Security and Medicare These taxes are automatically deducted from an employee’s paycheck and matched by employers
  • What Is FICA Tax? How To Calculate It in 2025 | Paychex
    The Federal Insurance Contributions Act (FICA) tax — split equally between you and your employees — funds Social Security and Medicare benefits that protect Americans at every life stage Founded in 1935 during the Great Depression, the FICA tax initially paid benefits to retirees





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