Question 30 2 points

Collectively, Social Security tax and Medicare tax are referred to as FICA tax.

True

False

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Question 31 2 points

Which of the following statements regarding Social Security tax is false?

Contributions to cafeteria plans are not taxable for Social Security tax.

All earnings of an employee that exceed the taxable wage base in a single year are not subject to Social Security tax.

Social Security tax was first levied on employees in 1937.

Social Security tax is also referred to as OASDI tax because it was initially established to benefit retired employees, survivors of employees, and disabled employees.

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Question 32 2 points

Anderson Brown worked 39 hours during the first week of the calendar year and earns regular wages of $15/hour. Assuming that she requests that 4% of her gross pay be contributed to a 401(k) plan and that she contributes $25 per week to a dependent-care flexible spending account, her Social Security tax for the week is $_____.

$34.72

$0.00

$36.27

$33.27

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Question 33 2 points

An employee whose tax return filing status is married filing jointly, whose taxable earnings for FICA taxes prior to the current period were $251,375, and whose taxable earnings subject to FICA taxes are $4,100 for the current period owes $_____ in total (regular and additional) Medicare tax.

$96.35

69.32

0

None of these