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State and Local governmental entities have special laws for FICA withholding under the Social Security Act. It may shock you to hear that not everyone
State and Local governmental entities have special laws for FICA withholding under the Social Security Act. It may shock you to hear that not everyone pays Social Security and/or Medicare taxes. After researching this topic, discuss your thoughts on this special provision and the reasons why it is important for a governmental accountant to know about this. Explain why this could be a material amount for inclusion in financial statement audits
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