FICA

American  

[fahy-kuh, fee-] / ˈfaɪ kə, ˈfi- /

Or F.I.C.A.

1. Federal Insurance Contributions Act: U.S. government legislation under which taxes are levied for the support of Social Security.

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FICA Cultural  

1. An acronym for F ederal I nsurance C ontributions A ct. FICA taxes are deducted from the pay of most American workers to support Social Security programs.

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Example Sentences

Whether you work for a company or are self-employed, you pay FICA.

From Encyclopedia.com

Think of these as checking accounts, with funds flowing in primarily from the Federal Insurance Contributions Act, or FICA, which levies a 12.4 percent tax on wages that is split by employers and workers.

From New York Times

All three asked: What is FICA, and why is he taking so much of my money?

From Washington Post

Some employers don’t break out Social Security taxes from Medicare taxes, and include them both in a line for FICA, which stands for Federal Insurance Contributions Act.

From Los Angeles Times

Every American should be free to say: “I don’t want to send my check to Mr. FICA: I want to write it to Mr. IRA.”

From Washington Post