These are mandatory taxes based on the Federal Insurance Contribution Act. All employees, except for students enrolled in at least half time status and certain Non-Resident Aliens, must pay these taxes. FICA taxes are based on a flat percentage of your taxable income.

The Internal Revenue Code provides an exemption from FICA and Medicare taxes for students paid by the colleges and universities in which they are enrolled. This exemption is mandatory and will apply to most undergraduate and graduate students employed by the UW. There are regulations that further define who is a student and eligible for the exemption from these taxes. See similar questions...

FICA is the acronym for the Federal Insurance Contributions Act. FICA consists of both Social Security and Medicare taxes. LoDI Payments received for more than six months had previously been deemed to be exempt from FICA tax withholding by the IRS under a separate statutory provision. Only LoDI payments made to an employee for a period of six months or less were subject to FICA taxes. See similar questions...

Employee and employer contributions under FICA are 6.2% each for Social Security (OASDI) and 1.45% each for Medicare (HI). The HI Trust Fund is separate from the Social Security trust funds. The Social Security actuaries make estimates for taxable payroll that are intended to include all covered employment, which would also include beneficiaries who are working. The National Bipartisan Commission on the Future of Medicare is currently studying the many issues facing the Medicare program. See similar questions...

Yes, it is considered earned income and not a retirement benefit. Federal, FICA and Medicare taxes are withheld on each installment. Arizona State tax is also withheld, even if you move to another state, because the income was earned in Arizona. Amounts rolled into a deferred compensation account are subject only to FICA and Medicare taxes. See similar questions...

Social Security payroll taxes are collected under authority of the Federal Insurance Contributions Act (FICA). The payroll taxes are sometimes even called "FICA taxes." In the original 1935 law the benefit provisions were in Title II of the Act and the taxing provisions were in a separate title, Title VIII. As part of the 1939 Amendments, the Title VIII taxing provisions were taken out of the Social Security Act and placed in the Internal Revenue Code. See similar questions...

If you are not enrolled as a half-time student or more we are required to deduct FICA taxes. FICA tax deduction waivers are not applicable to benefited employees. See similar questions...

FICA contributions are made to the U.S. Department of Treasury, which allocates them to the trust funds to which they are designated. See similar questions...

Those individuals who timely return the signed consent form to the FICA Refund Claim Unit by Thursday, April 5, 2007 will receive their refund from the City once the IRS refunds the money to the City. Because the IRS will have to review the claims prior to paying out the refund, we cannot provide an estimate of when these payments will be received by the City. See similar questions...

Medicare select is a type of Medigap policy that is permitted to be sold in Wisconsin. Medicare select policies, which may be offered by insurance companies and health maintenance organizations (HMOs), must meet all the requirements that apply to a Medigap policy. See similar questions...

Medicare is the federally funded health insurance program for individuals age 65 and older, certain disabled individuals under age 65, and individuals of any age who have permanent kidney failure. Medicare Part A provides coverage for hospital care, skilled nursing facility care, home health and hospice care. Part B provides coverage for professional care, outpatient hospital care and other medical services. See similar questions...

To be eligible for Medicare, one must be a U.S. citizen living in the U.S. or a foreign national who has applied for legal residency and has lived in the U.S. for a minimum of five years. Persons aged 65 or older who are eligible for Social Security or Railroad Retirement benefits. Medicare Part A is automatic and Part B is optional. Medicare Part A becomes available at age 65. See similar questions...

Although Medicare provides coverage for a wide range of acute services there are many gaps in its coverage. In addition, there are a number of cost sharing requirements for Medicare beneficiaries. The gaps in coverage and required cost-sharing translate into direct out-of-pocket expenses for Medicare beneficiaries (hence, no claim records), unless they have supplemental insurance coverage, known as medigap insurance. See similar questions...

Medicare Advantage is the new name for Medicare + Choice plans. This type of health plan is an alternative to Original Medicare and was created by the Balanced Budget Act of 1997 and the Medicare Modernization Act of 2003. Some examples of Medicare Advantage plans are: Medicare Advantage plans feature prescription drug benefits, fixed costs, limits on out-of-pocket expenses, and worldwide coverage for emergency and urgent care. See similar questions...

The City has filed refund claims for both the employer's and employees' share of the FICA taxes paid on LoDI payments received by eligible uniformed members of the City's Correction, Fire, Police and Sanitation departments for a period of six months or less for the years 1989 through 2005. See similar questions...

Yes. Your refund checks will include the amount of FICA taxes withheld from your paycheck that are attributable to LoDI pay received for a period of six months or less AND statutory interest from the date of payment. The interest received is taxable and you will receive a 1099-int form. See similar questions...