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Federal Insurance Contributions Act
Provision authorising taxes on the wages of employed persons to provide for the OASDI and HI programs. Covered workers and their employers pay the tax in equal amounts.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Insurance
- Category: Medicare & Medicaid
- Company: Centers for Medicare & Medicaid Services
- Product:
- Acronym-Abbreviation:
Other Languages:
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