Social Security Tax

All citizens of the United States who are gainfully employed pay certain taxes on their wages in order to support the various programs that Social Security offers. The Social Security tax rate is discussed in several sections of the Internal Revenue Code, namely sections 1401, 3101 and 3111. The discussion centers on how the tax rates are set by law for Social Security programs such as Disability Insurance, Old Age and Survivors Insurance. The Federal Insurance Contributions Act or FICA states that employers have to pay the equivalent amount of Social Security tax that their employees pay in every paycheck they receive. The United States Congress has authorized certain requirements for Social Security tax, and any business that does not follow these requirements is subject to massive penalties.

Fast Facts

  • Social Security has been subsidized by a Social Security tax ever since its start in order to fund OASDI and Medicare.
  • OASDI stands for old age, survivors, and disability insurance.

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Articles

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  • Filing Social Security Taxes

    To file for Social Security Disability Benefits you must have paid into the system through your social securit...
    • Site: socialsecuritylawfirms.com
    • 1 of 1 user(s) found this useful
  • Social Security Glossary

    AIME (Average Indexed Monthly Earnings):  The dollar amount used to calculate your Social Security benefit if ...
    • Site: socialsecuritylawfirms.com
  • Social Security and Disability Benefits: An Overview

    The Social Security Administration (SSA) administers two important financial assistance programs that provide ...
    • Site: lawfirms.com
    • 5 of 8 user(s) found this useful
  • Guide to Social Security Disability

    President Roosevelt created the Social Security Act and the Social Security Administration during the Great De...
    • Site: lawfirms.com
    • 15 of 22 user(s) found this useful
  • Am I Eligible for Social Security for a Disability?

    The Social Security Administration (SSA) administers different programs that provide financial benefits for di...
    • Site: disabilitylawyers.com

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From Around the Web

Results 1-5 of 17 for "social security tax"

  • The Turbo Tax Defense

    Remember when Treasury Secretary Timothy Geithner ran into trouble because he hadn’t paid his self-employment ...
    • Site: lexblog.com
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  • Outsourcing Motherhood

    June Cleaver is out – she no longer resonates with our society as the quintessential mother in the way she onc...
    • Site: concurringopinions.com
  • Trio Indicted for Mortgage Loan Scheme

    Albert Lewis Ellis, 46 Fresno, California, Richard Keith Hanna, 42, Elk Grove,...
    • Site: mortgagefraudblog.com
  • The Forgotten New Deal — The Kingfish

    I’ve already written an article about the relationship between Huey Long and the Guarantee Clause (along with ...
    • Site: concurringopinions.com
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