Social Security Tax
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Social Security Taxes are imposed equally upon the employers as well as the employees for paying to the social security programmes in the state. In case of the self employed persons also, the system is such that the person pays the whole amount of social security taxes.
As to the Federal Insurance Contributions Act, the old age and disability insurance is being financed by the social security tax.
According to the FICA Law, the employer has to pay the same amount of social security tax as the employee makes.
Social Security Taxes are imposed equally upon the employers as well as the employees for paying to the social security programmes in the state. In case of the self employed persons also, the system is such that the person pays the whole amount of social security taxes.
As to the Federal Insurance Contributions Act, the old age and disability insurance is being financed by the social security tax.
According to the FICA Law, the employer has to pay the same amount of social security tax as the employee makes.
In the United States, the social security tax is paid to the Social Security Trust Fund maintained by the US treasury. The cases only when the total revenue collected exceeds to the total Expenditures, then the surplus fund is being invested.
