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TeachMeFinance.com - explain Federal Insurance Contribution Act Payroll Tax Federal Insurance Contribution Act Payroll Tax The term 'Federal Insurance Contribution Act Payroll Tax ' as it applies to the area of Medicare in the United States can be defined as ' Medicare's share of FICA is used to fund the HI Trust Fund. In FY 1995, employers and employees each contributed 1.45 percent of taxable wages, with no limitations, to the HI Trust Fund'. About the author
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