Examlex
A bank will not be liable for payment of a check on which the drawer's signature has been forged if:
Taxable Wage Base
The maximum amount of an employee's earnings that are subject to certain taxes, such as Social Security tax, within a given tax year.
Employer's Portion
The part of employment taxes and benefits that the employer is responsible for paying, separate from employee withholdings.
Taxes
Mandatory financial contributions imposed by a government on individuals, corporations, and other entities to fund public expenditures.
FICA
FICA stands for the Federal Insurance Contributions Act and refers to the taxes collected to fund Social Security and Medicare programs in the United States.
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