Joe has been a life insurance sales agent for one company for ten years and is paid on a commission basis. His employer has hired a new payroll clerk who has decided to withhold federal income taxes, Social Security taxes, and Medicare taxes from Joe's commission checks. Joe explained to the new clerk that he is not required to have federal income taxes withheld from his paycheck. Is he correct and why? Question 9Select one: a. Yes; Joe is an independent contractor and is not subject to any withholding taxes. b. No; Joe is a full-time life insurance sales agent for one company, he is considered a statutory employee, and his wages are subject to federal income tax withholding. This answer is incorrect. Life insurance sales agents who work for one company are classified as statutory employees, but their wages are not subject to federal withholding for income taxes. c. No; Employers must withhold these taxes from all employees. d. Yes; Wages of statutory employees are subject to withholding of Social Security and Medicare taxes but not federal income taxes.