Description Usage Arguments Details Value Examples
Taxes under the Federal Insurance Contributions Act (FICA) are composed of the old-age, survivors, and disability insurance taxes, also known as social security taxes, and the hospital insurance tax, also known as Medicare taxes. Different rates apply for these taxes. The amount an employee pays in FICA tax is capped at the Benefit and Contribution Base which can change from year to year according to the Average Wage Index (AWI). The data set returned will contain the actual values for years that the government listed at the time this package was built. For any year beyond that, an estimate is returned based on estimated values for the Benefit and Contribution Base and full wage earnings. Since Medicare taxes are not capped the full wage earnings are estimated using the medicare earnings (they are the same). The minimum of estimated Medicare earnings and estimated Benefit and Contribution Base will be the FICA earnings returned.
1 | getFicaEarnings(statement = NULL, endYear = NULL)
|
statement |
the Social Security Statement Object returned from |
endYear |
the last year to include in the returned data set |
The endYear
is the last year of FICA earnings to return. If no
endYear
is given, only the FICA earnings contained in the input
Social Security Statement object are returned.
the FICA earnings data set
1 2 | getFicaEarnings(statement = myStatement, endYear = 2025)
getFicaEarnings(statement = myStatement)
|
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