FICA
The combined Social Security and Medicare payroll tax of 7.65% withheld from your wages.
What does fica mean?
FICA funds Social Security (6.2%, up to a wage cap) and Medicare (1.45%, no cap). Your employer pays a matching amount; the self-employed pay both halves as self-employment tax.
Put it to use
Related terms
FICA — frequently asked
What is FICA on my paycheck?
FICA is the payroll tax funding Social Security and Medicare — 7.65% withheld from your pay (6.2% Social Security up to a wage cap, 1.45% Medicare), matched by your employer for a combined 15.3%.
Do I get FICA taxes back?
No — unlike income tax, FICA is not refundable and does not appear on your tax return as a credit. It directly funds your future Social Security and Medicare benefits rather than being returned at filing.