The Federal Insurance Contributions Act (FICA) is a federal law that mandates a payroll tax on both employees and employers to fund Social Security and Medicare programs in the United States.
The Federal Insurance Contributions Act (FICA) is a U.S. federal payroll tax imposed on both employees and employers to fund Social Security and Medicare. Established by the Social Security Act of 1935, FICA contributes to long-term financial support for American retirees and other beneficiaries.
