- Federal Insurance Contributions Act: U.S. government legislation under which taxes are levied for the support of Social Security.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
Examples from the Web for fica
Obama could say "I'll go with you on chained CPI, but let's raise the FICA tax cap."
It's now around $115,000 (that is, FICA taxes are taken out only of wages up to that level).
I say, as I've said before, that Obama should put on the table raising the cap on FICA taxes.
And even in less rancorous times, restructuring the FICA tax would be a gargantuan job.
I agree with Scroll Down from that other thread, who wants to lift the cap (right now around $108,000) on the FICA tax.
The mother-in-law greets the bride by making the sign mano in fica with her right hand.
An acronym for Federal Insurance Contributions Act. FICA taxes are deducted from the pay of most American workers to support Social Security programs.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.