2007-03-03 12:58:17 · 8 answers · asked by LifeCurious 2 in Business & Finance ➔ Taxes ➔ United States
A very few employees may be exempt from FICA taxes because they participate in similar retirement and disability plans to Social Security. Some clergy, teachers and railroad employees are in that group, as were some Federal government employees under the old Civil Service Retirement system. It's not something that you can opt into or out of. If you work for an employer in a position that is exempt from FICA taxes you are automatically exempt.
When you become eligible for Social Security retirement benefits you will effectively see some or all of that money returned to you. Ditto if you become totally and permanently disabled and become eligible for Social Security disability payments. It's not a return of the actual funds that were withheld form your wages in your working years but it generally has the same effect.
2007-03-03 13:08:07 · answer #1 · answered by Bostonian In MO 7 · 4⤊ 0⤋
No and no, unless you are in a job where FICA isn't required, and there aren't many of those, you are not exempt. You don't get your money back unless and until you start collecting social security.
2007-03-03 15:35:56 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
No, you cannot exempt yourself or apply for a refund of FICA taxes if you are a US citizen. There were a few exceptions if you are not, not sure if they still exist.
2007-03-03 13:18:40 · answer #3 · answered by Brian G 6 · 0⤊ 1⤋
No one is exempt from FICA tax and no you don't get it back. This money funds the social security benefits you may be entitled to when you retire or become disabled. If you die with dependants, they can collect social security on your account also.
2007-03-03 13:02:36 · answer #4 · answered by themainsail 5 · 0⤊ 2⤋
Very confussing? You will not get FICA money back, sorry
2007-03-03 13:02:14 · answer #5 · answered by rallman@sbcglobal.net 5 · 0⤊ 0⤋
Nope.
2007-03-03 13:02:46 · answer #6 · answered by ckm1956 7 · 0⤊ 1⤋
You wish!!
2007-03-03 13:31:34 · answer #7 · answered by loandude 4 · 0⤊ 1⤋
no, no
2007-03-03 13:02:07 · answer #8 · answered by Anonymous · 0⤊ 3⤋