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Federal Income Tax
The federal government's imposition of a financial charge on the yearly profits of individuals, corporations, trusts, and different legal organizations.
FICA Base Limit
The maximum amount of earnings subject to the Social Security portion of the Federal Insurance Contributions Act tax in a given year.
FICA-OASDI
Federal Insurance Contributions Act - Old Age, Survivors And Disability Insurance, a U.S. payroll tax funding Social Security and Medicare.
Maximum Earnings Limit
The upper threshold of income that can be taxed for specific purposes, such as Social Security, beyond which no additional taxes are levied on income.
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