FICA – Social Security and Medicare

United States provisions of the FICA or Social Security and Medicare requirements are applicable to Puerto Rico employers and employees as well. The employee tax must be withheld by the employer from the employee’s wages and is paid through deposits. Generally, an employer is a monthly depositor for the entire calendar year if the aggregate amount of employment taxes reported for the look-back period is $50,000 or less. Under the monthly deposit schedule, the FICA deposit is due by the fifteenth (15th) day of the following month.