question)

-For 2014, the maximum base amount for computing the Medicare portion of the self-employment tax is $135,000. TRUE OR FALSE?

-If an employee does not complete a Form W-4, the employer must withhold tax as if the employee were single with no exemptions. TRUE OR FALSE?

-If an individual taxpayer's quarterly estimated tax payments equal or exceed 70 percent of the tax due for the current year, the taxpayer will not be subject to the penalty for underpayment of estimated tax. TRUE OR FALSE?

- Mark the correct answer. FICA taxes are:

a. Not subject to cost of living adjustments each year.

b. 7.65 percent of earned income up to $150,000.

c. Paid by the employee and by the employer.

d. 7.65 percent of all earned income with no limitations.