Which political party eliminated the income tax deduction for Social Security FICA withholding?

Answer While it is a popular rumor that the Democratic Party eliminated the Social Security withholding deduction, the truth to the matter is that there never was such a deduction. In fact, the original S... Read More »

Top Q&A For: Which political party eliminated the income tax...

Does federal income tax withholding include Social Security?

Federal income tax (FIT) withholding does not include Social Security withholding; they are separate. FIT is based on your filing status, exemptions, income and the IRS withholding tax tables. Soci... Read More »

What Is FICA Tax Withholding?

FICA tax withholding from paychecks involves Social Security and Medicare payroll taxes collected under the Federal Insurance Contributions Act, known as FICA. The withholding section of your pay s... Read More »

FICA & Medicare Withholding Rates?

The Federal Insurance Contributions Act (FICA), better known as Social Security, is primarily aimed at providing income benefits to retired persons and people with disabilities. Social Security als... Read More »

What is the difference between federal withholding tax and fica?

The primary difference between withholding tax and FICA is the how the taxes are used. Withholding tax is general revenue that supports overall government operations. FICA tax supports programs adm... Read More »