What is FICA Employee Tax?

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FICA is the acronym for the combination of Social Security payroll tax and the Medicare payroll tax.

For the calendar year 2019, the FICA payroll tax consists of:

  • The Social Security tax of 6.2% withheld from the first $132,900 of each employee’s earnings in the year.
  • The Medicare tax of 1.45% withheld from the total amount of an employee’s 2019 earnings. (There is no earnings cap or limit on the Medicare tax.)

FICA is paid by employee and employer. This means the employer must match the FICA taxes withheld from its employees