The Federal Insurance Contributions Act (FICA) is a cornerstone of the U.S. welfare system, funding Social Security and ...

These earnings are subject to Social Security and Medicare taxes, also known as FICA (Federal Insurance Contributions Act) taxes. A portion of the FICA taxes you pay goes toward Medicare ...

The Direct File system will be open to millions of taxpayers in 25 states, up from 12 last year. But it’s unclear what will ...

The Federal ... taxes independently. Statutory deductions, now referred to as eligible deductions, remain intact. These include contributions to the National Housing Fund, National Health ...

Penalty-free retirement distributions, casualty loss deductions and delayed tax filing and payments can all provide some ...

Over the past two weeks, wildfires have caused substantial loss and damage to homes and communities in Los Angeles, California, and the ...

A plan would be permitted to correct a participant’s pre-tax catch-up contribution ... defines wages for purposes of the Federal Insurance Contributions Act (“FICA”).

As California faces the largest insurance crisis in the state's history, there is still no leader of the state Senate Insurance Committee. Half committee members are new to the committee, the ...

Discusses Treasury regulations for 831(b) microcaptive transactions issued 1/14/2025 re listed transactions and transactions ...

Among the most commonly overlooked deductions are those tied to insurance premiums and medical expenses. While the 2017 Tax Cuts and Jobs Act (TCJA ... conditions. Contributions to a Health ...

Which means it's funded by taxpayers: We all pay 1.45% of our earnings into FICA - Federal Insurance Contributions Act - which go toward ... While the portion of our FICA taxes that cover payments ...