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LSDefine

Simple English definitions for legal terms

Federal Insurance Contributions Act

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A quick definition of Federal Insurance Contributions Act:

Federal Insurance Contributions Act (FICA) is a law that requires employers and employees to pay a tax to fund social security benefits. This tax helps provide financial support to people who are retired, disabled, or have lost a loved one. FICA is an important way to ensure that people have access to financial assistance when they need it most.

A more thorough explanation:

The Federal Insurance Contributions Act (FICA) is a federal law that requires employers and employees to pay a tax to fund Social Security and Medicare programs. The tax is based on a percentage of an employee's wages, and employers are responsible for withholding and remitting the tax to the government.

For example, if an employee earns $50,000 per year, the employer must withhold a certain percentage of that amount for FICA taxes. The employer must also contribute an additional amount equal to the employee's contribution.

The purpose of FICA is to provide a safety net for retired and disabled workers, as well as their dependents. The funds collected through FICA taxes are used to pay for Social Security retirement benefits, disability benefits, and Medicare health insurance for those who qualify.

federal instrumentality | federal intermediate credit bank

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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