Nolo's Plain-English Law Dictionary
Need Professional Help? Talk to a Lawyer
Enter Your Zip Code to Connect with a Lawyer Serving Your Area
- Fica Tax
- Short for Federal Insurance Contributions Act tax, it is a payroll tax that incorporates the Social Security tax and Medicare tax. The FICA tax is 15.3% of an individual's earned income up to a certain limit (called the Social Security Wage Base) that increases each year, and then 2.9% of wages without limit.