Federal Insurance Contributions Act

The Federal Insurance Contributions Act (FICA ) is a United States federal payroll (or employment) tax payable by both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers. == Calculation == === Overview === The Federal Insurance Contributions Act is a tax mechanism codified in Title 26, Subtitle C, Chapter 21 of the United States Code.

Source: Wikipedia — Federal Insurance Contributions Act (CC BY-SA 4.0)