FICA 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.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). fica. Retrieved September 30, 2026, from http://smartdefine.org/fica/definitions/1153862 |
| Chicago | Barry Goldsmith. 2010. "fica" http://smartdefine.org/fica/definitions/1153862 (accessed September 30, 2026). |
| Harvard | Barry Goldsmith 2010, fica, Smart Define, viewed 30 September, 2026, <http://smartdefine.org/fica/definitions/1153862>. |
| MLA | Barry Goldsmith. "fica" 21 October 2010. Web. 30 September 2026. <http://smartdefine.org/fica/definitions/1153862> |