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This question is about employer.
What does FICA stand for?
FICA stands for the Federal Insurance Contributions Act. It is a US federal payroll tax. It is deducted from each paycheck. FICA is related to social security, as your social security number is used to track and record payments, and these payments help you earn credits that you can eventually access for Social Security benefits.
While the social security tax and FICA are closely related, they differ. FICA refers to the taxes that largely fund social security benefits. They also largely fund other services, such as Medicare.
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