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FICA

FICA, or Federal Insurance Contributions Act, is a U. S. Continue Reading Below

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Discover the definition of financial terms related to fica.

Understanding FICA: What It Is and How It Affects Your Paycheck Thumbnail

Understanding FICA: What It Is and How It Affects Your Paycheck

SuperMoney Team

Payroll Tax: Understanding The Essentials Thumbnail

Payroll Tax: Understanding The Essentials

Dan Agbo

About FICA

FICA, or Federal Insurance Contributions Act, is a U.S. federal payroll tax that is imposed on both employers and employees. FICA taxes are used to fund Social Security and Medicare, two programs that provide benefits to U.S. citizens and legal residents.