What is the meaning of Federal Insurance Contributions Act?

Subtopics: FICA 

Federal Insurance Contributions Act is the Federal Insurance Contributions Act consists of payments to the Social Security retirement supplement system and the Medicare hospital insurance program. A tax for each component is levied on employers, employees and certain self-employed individuals. These taxes are taken out of your paycheck separately from your income taxes.

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APABarry Goldsmith. (2010). federal insurance contributions act. Retrieved October 1, 2026, from http://smartdefine.org/federal_insurance_contributions_act/definitions/1153745
ChicagoBarry Goldsmith. 2010. "federal insurance contributions act" http://smartdefine.org/federal_insurance_contributions_act/definitions/1153745 (accessed October 1, 2026).
HarvardBarry Goldsmith 2010, federal insurance contributions act, Smart Define, viewed 1 October, 2026, <http://smartdefine.org/federal_insurance_contributions_act/definitions/1153745>.
MLABarry Goldsmith. "federal insurance contributions act" 21 October 2010. Web. 1 October 2026. <http://smartdefine.org/federal_insurance_contributions_act/definitions/1153745>