The US social tax includes two components:
- Ìý
•ÌýÌýÌýÌý taxes under the Federal Insurance Contributions Act (FICA) which are composed of the old-age, survivors and disability insurance taxes, also known as the social security tax, and
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•ÌýÌýÌýÌý the hospital insurance tax, also known as the Medicare tax
However, there are a number of considerations that the employer must take into account for social security (SS) withholding purposes and these are detailed in the commentary in 2.2.1–2.2.5.
2.2.1ÌýÌýÌýÌý US social security withholding
The Federal Insurance Contributions Act (FICA) is the US federal system that provides for old-age, survivors, disability and hospital insurance. The social security tax covers
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