What is FICA and who pays it?

Question

and do not ALL employees have to pay it? reason i ask is cause on MY paycheck I don't have it and i work @ staples however on my girlfriends check she does pay into this FICA but she works as teacher at private pre school so why is she paying it on taxes but i'm not?

Answer 1

Students on work study don't pay it, but as an employee at Staples you should be.  It might show as social security and medicare rather than saying FICA - it's the same thing.  If you don't see it, ask your payroll people.

Answer 2

FICA is your Social Security tax. Everyone pays it, until their annual income reaches above a certain amount, which I believe is $97,000. Isn't it great that, with Social Security going broke, those who make the most don't have to contribute? Gotta love that!

Answer 3

if you are working at staples - you have to have it - it may be broken into two parts - soc sec @ 6.2% and medicare @ 1.45%. you pay soc sec tax until your soc sec wages reach $102,000 in 2008 - the limit increases each year - the med tax is on all wages - no limit

Answer 4

FICA is the old-fashioned term for this deduction. My current paycheck stubs contain entries for OASDI and Medicare. Same thing, just broken down differently.

Answer 5

Almost everyone pays it.  Certain government employees, railroad employees and foreign students don't pay it.

If you are a US Citizen working at Staples, you should be paying it.  It may be called something else on your paystub.  FICA may be called "Social Security" and "Medicare" on your paystub.