FICA Tax FAQs: Common Questions Employers and Employees Ask
Article Summary FICA taxes fund Social Security and Medicare, with required contributions from both employers and employees. Employers are responsible for withholding the employee portion of FICA taxes and matching those contributions. FICA applies to most wages, including salaries, bonuses, and certain fringe benefits, though some exemptions may apply. Understanding current tax rates and wage…
Palmetto PayrollJanuary 15, 2026
