FICA

What does FICA stand for?

Federal Insurance Contributions Act

A financial acronym that stands for the federal tax imposed on employees and employers to fund Social Security and Medicare; helps provide benefits for children of deceased workers, the disabled, and retirees.

Example

"Do you think the FICA tax should be imposed on investment income? "

Related Slang

Usage

Last Updated: February 11, 2015

FICA definition

This page explains what the acronym "FICA" means. The definition, example, and related terms listed above have been written and compiled by the Slangit team.

We are constantly updating our database with new slang terms, acronyms, and abbreviations. If you would like to suggest a term or an update to an existing one, please let us know!