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Who Gets a 1099 Form? Find Out if You Need to Pay Self-Employment Tax

Who Gets a 1099 Form? Find Out if You Need to Pay Self-Employment Tax
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Everything You Need to Know About FICA on Your Paystub

Lifestyle
By Lifestyle
on December 5, 2020 at 10:35 AM
So you got your paycheck but you realize there’s a sum of money missing. Maybe you can see a deduction that clearly says “FICA” on it. What does it mean and how does it work?
FICA actually originates from legislation passed all the back in the 1930s. Today, FICA remains one of the most reliable anti-poverty programs in United States history. Here’s how it relates to your taxes and how you can track it.
What is FICA on a Paystub?
FICA is a federal law that stands for the Federal Insurance Contributions Act. This law mandates that working citizens devote a portion of their income to federal insurance programs. These federal insurance programs include Medicare and Social Security. ....

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