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What Is Fica Medicare Tax Rate For 2024

What Is Fica Medicare Tax Rate For 2024. Like social security tax, medicare tax is withheld from an. Fica is a 15.3% payroll tax that funds social security and medicare.


What Is Fica Medicare Tax Rate For 2024

The rate is for both employees and employers, according to the internal revenue code. Fica stands for the federal insurance contributions act, and itโ€™s a federal tax that employers and employees pay.

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