Social Security Tax
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Income Tax
Provides benefits for retired workers and their dependents as well as for the disabled and their dependents. Also known as the Federal Insurance Contributions Act (FICA) tax.
- — Understanding Taxes Student Glossary retrieved 2014-05-16
Common Legal Terms
A payroll deduction based on gross wages paid; this amount is matched by the employer as required by the Federal Insurance Contribution Act (FICA).