Question
Which of the following is not true about FICA taxes? The FICA tax has two parts, Social Security (Old Age, Survivors, and Disability Insurance) and
Which of the following is not true about FICA taxes?
The FICA tax has two parts, Social Security (Old Age, Survivors, and Disability Insurance) and Medicare.
In 2022, the maximum wage base for Social Security tax withholding is $147,000.
In 2022, there is no maximum wage base for Medicare tax withholding.
When employees work for more than one employer and exceed the maximum wage base for Social Security tax withholding in total, the additional Social Security tax is used to offset any Medicare taxes withheld otherwise.
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Auditing Essentials
Authors: Frank C Giove
1st Edition
0738671509, 9780738671505
