Which of the following is not true about FICA taxes? a. The FICA tax has two parts,
Question:
Which of the following is not true about FICA taxes?
a. The FICA tax has two parts, Social Security (Old Age, Survivors, and Disability Insurance) and Medicare.
b. In 2020, the maximum wage base for Social Security tax withholding is $132,900.
c. In 2020, there is no maximum wage base for Medicare tax withholding.
d. When employees work for more than one employer and exceed the maximum wage base for Social Security tax withholding in total, they are allowed a refund of
excess tax withheld.
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Related Book For
Income Tax Fundamentals 2021
ISBN: 9780357141366
39th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
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