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An employee earned $44,800 during the year working for an employer when the maximum limit for Social Security was $137,700 The Federal insurance Contributions. Act

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An employee earned $44,800 during the year working for an employer when the maximum limit for Social Security was $137,700 The Federal insurance Contributions. Act (FICA) tax rate for Social Security is 62% and the Federal insurance Contributions Act (FCA) tax rate for Medicare is 1.45%. The employee's annual Federal insurance Contributions Act (FiCA) taxes amount is. Multiple Choice $6,204.80. $27760 $3.42720 $64960 $6,85440

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