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All of the following statements regarding FICA taxes are true except : FICA taxes are deducted from the employee. Employers must pay withheld FICA taxes
All of the following statements regarding FICA taxes are trueexcept:
- FICA taxes are deducted from the employee.
- Employers must pay withheld FICA taxes to the IRS.
- The amount of FICA deducted from the employee is credited to a liability account.
- A self-employed person is exempt from FICA taxes.
- An employer must pay FICA taxes equal to the amount withheld from the employee.
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Governmental and Nonprofit Accounting
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
10th edition
132751267, 978-0132751261
