Federal Insurance Contributions Act (FICA)

URI: https://gptkb.org/entity/Federal_Insurance_Contributions_Act_(FICA)
GPTKB entity
Statements (28)
Predicate Object
gptkbp:instanceOf gptkb:United_States_federal_law
gptkbp:additionalTax 0.9% Medicare tax for high earners
gptkbp:appliesTo employers
employees
gptkbp:category Taxation in the United States
Social programs in the United States
gptkbp:codifiedIn gptkb:26_U.S.C._§_3101_et_seq.
gptkbp:dateEnacted 1935
gptkbp:enactedBy gptkb:United_States_Congress
gptkbp:fundedBy gptkb:Old-Age,_Survivors,_and_Disability_Insurance_(OASDI)
Medicare Hospital Insurance
https://www.w3.org/2000/01/rdf-schema#label Federal Insurance Contributions Act (FICA)
gptkbp:maximumTaxableEarnings applies to Social Security portion
gptkbp:noMaximumTaxableEarnings applies to Medicare portion
gptkbp:notableCollection gptkb:Internal_Revenue_Service
gptkbp:partOf gptkb:Social_Security_Act
gptkbp:purpose fund Medicare
fund Social Security
gptkbp:relatedTo gptkb:Social_Security_Administration
gptkb:Medicare_Program
gptkb:Self-Employment_Contributions_Act_(SECA)
gptkbp:taxStatus payroll tax
1.45% for Medicare (employee)
1.45% for Medicare (employer)
6.2% for Social Security (employee)
6.2% for Social Security (employer)
gptkbp:bfsParent gptkb:26_U.S._Code_Chapter_21
gptkbp:bfsLayer 6