Learn about FICA taxes, including Social Security and Medicare, and how they impact your paycheck. Understand the current rates and deductions.

FICA taxes combine 6.2% Social Security and 1.45% Medicare, totaling 7.65% on income up to $168,600. Benefits from FICA tax payments might be reduced due to funding shortfalls projected in 2033 and ...

New tax breaks on tip income and overtime pay go into effect this year. Event planners, hairdressers, handymen and Uber ...

IRS regulations require that Social Security and Medicare withholding (FICA) be deducted from all student paychecks when the student is NOT enrolled with a minimum of six (6) credit hours for the ...

Medicare and Social Security, two cornerstones of the American social safety net, provide income and health insurance for retirees and individuals with disabilities. Both programs are massive in terms ...

Social Security may run short by 2034. Experts have suggested boosting FICA taxes, raising wage cap and delaying retirement as potential remedies to shortfall.

New employees must complete both Form W-4 (Employee’s Withholding Allowance Certificate) and Form VA-4 (Employee’s Virginia Income Tax Withholding Exemption Certificate) online using Employee ...

The tax savings of non-qualified deferred compensation plans are not the only tax-related fact you need to know before ...

Northwestern Mutual challenges a $23 million IRS tax bill on free employee meals, raising questions for insurers about benefit programs and future compliance ...

Student employees who work during the summer and are not enrolled with at least six credit hours for the summer session can expect to see Social Security and Medicare withholding in their summer ...