This article has been reviewed by tax expert Erica Gellerman, CPA. FICA (Federal Insurance Contributions Act) taxes are social security and Medicare taxes that both employers and employees pay. Employers must withhold FICA taxes from employees’ wages, pay employer FICA taxes and report both the employee and employer shares to the IRS. For the 2019 tax…
The article FICA Tax Rate: What Are Employer Responsibilities? originally appeared on NerdWallet.
