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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
General Explanations of the Administrations Fiscal Year 2013 Revenue Proposals

General Explanations of the Administrations Fiscal Year 2013 Revenue Proposals

Department of the Treasury

Paperback

Investing & FinanceGeneral Political Science

ISBN10: 1503374297
ISBN13: 9781503374294
Publisher: Createspace
Published: Jan 3 2015
Pages: 216
Weight: 1.13
Height: 0.46 Width: 8.50 Depth: 11.02
Language: English
The FICA tax is imposed to fund two different benefit programs: (1) the old-age, survivor and disability insurance program (OASDI), which funds the Social Security program that provides monthly retirement, disability, and survivor benefits; and (2) Medicare hospital insurance (HI). Generally, the OASDI tax rate of 12.4 percent applies to taxable wages and salaries up to the OASDI wage base ($106,800 for 2011 and $110,100 for 2012), and the HI tax of 2.9 percent applies to all taxable wages and salaries. Generally, one-half of both OASDI and HI taxes are paid by the employer and the other half are paid by the employee through mandatory withholding.

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