FICA

(redirected from Federal Insurance Contributions Act)
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AcronymDefinition
FICAFederal Insurance Contributions Act (US)
FICAFestival International du Court Métrage d'Abidjan (French: International Short Film Festival in Abidjan; Côte d'Ivoire)
FICAFur Information Council of America (West Hollywood, CA)
FICAFolded Inverted Conformal Antenna (telecommunications)
FICAFederation of International Cricketers Association
FICAFondation Internationale de Capoeira Angola (French: International Foundation of Angola Capoeira)
FICAFirst International Computer of America
FICAFellow de l'Institut Canadien des Actuaires (French: Fellow of the Canadian Institute of Actuaries)
FICAForum for International Commercial Arbitration (now Forum for International Conciliation and Arbitration)
FICAFellow of the International Compliance Association
FICAFisher Island Community Association (Florida)
FICAFederal Insurance and Compensation Act
FICAFort Irwin Cantonment Area (California; US Army)
FICAForum for International Conciliation and Arbitration (formerly Forum for International Commercial Arbitration)
FICAFleet Imaging Command Atlantic (Navy Photographic Command based in Norfolk Virginia)
FICAFederation of Independent Carnival Associations (UK)
References in periodicals archive ?
Guidance for determining a worker's status is found in Sections 31.3121(d)-1, 31.3306(i)-1, and 31.3401(c)-1 of the Employment Tax Regulations, which relate to the Federal Insurance Contributions Act, the Federal Unemployment Tax Act, and federal income tax withholding, respectively.
457(b) plan of nonqualified deferred compensation, any contribution, whether it is in the form of a deferral elected by an employee or a matching or "nonelective" contribution made by the employer, will be treated as a deferral and be subject to Federal Insurance Contributions Act (FICA) taxes and Federal Unemployment Tax Act (FUTA) taxes when the services are performed or the contribution is no longer subject to a substantial risk of forfeiture.
The Court of Appeals for the Federal Circuit upheld a lower court decision that the wage caps for the Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) must be calculated by reference to common law employment relationships rather than statutory employment relationships.
Government Accountability Office report, except the gradual application of the federal minimum wage rate in the CNMI, the imposition of the Federal Insurance Contributions Act payroll taxes on previously exempted guest workers and their employers will further increase labor costs in the commonwealth.
The cash wages you pay your employees are subject to payroll taxes, including the Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) taxes, as well as state unemployment taxes and workers' compensation.
The covered employment tax laws include federal and state income tax withholding (ITW) laws; the Federal Insurance Contributions Act (FICA), which encompasses Social Security and Medicare taxes; the Federal Unemployment Tax Act (FUTA); and state unemployment insurance (SUI) tax laws.
Under prior regulations, agents that paid wages to home health care workers were permitted to withhold income, Federal Insurance Contributions Act (FICA), and Railroad Retirement Ta Act taxes, but not FUTA taxes.
In upholding the decision by the District Court of Southern Iowa, the Eighth Circuit agreed that the salary to the sole shareholder/employee used to compute Federal Insurance Contributions Act (FICA) taxes was unrealistically low.
If structured incorrectly, the business contracting-out the work can be exposed to prodigious federal employment tax liabilities, consisting of the employer's share of Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) taxes that should have been paid, federal income taxes and the employee's share of FICA taxes that should have been withheld, interest, and applicable penalties.
Employment taxes for these purposes include the employer and employee portion of Federal Insurance Contributions Act (FICA) taxes, Federal Unemployment Tax Act (FUTA) taxes, Railroad Retirement Tax Act taxes (RRTA), and federal income taxes withheld from wages.
* Sections 31.3121(d)-1, 31.3 306(i)-1 and 31,3401(d)-1 of employment tax regulations, relating to the Federal Insurance Contributions Act (FICA), the Federal Unemployment Tax Act (FUTA) and the Collection of Income Tax at Source on Wages (chapters 21, 23 and 24 of the Internal Revenue Code).
Employee status for a worker requires the employer to withhold income tax payments from the employee's wages,(5) requires employer payment of both the employer and employee portions of the Social Security tax (imposed under the Federal Insurance Contributions Act (FICA)),(6) and, with respect to private employers, employer and employee contributions under the Federal Unemployment Tax Act (FUTA).(7) For the worker, independent contractor status means that he or she must pay self-employment taxes with his or her individual return.(8) Many workers claiming independent contractor status will also claim they are engaged in a trade or business as an independent contractor for income tax purposes.
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