Which of the following statements regarding FICA taxes is true?

Multiple Choice

• The maximum amount of Medicare taxes an employee is required to pay is capped each year but the maximum amount of Social Security taxes is not.

• An employee who has two different employers during the year may be entitled to a tax credit for overpaid FICA taxes.

• The wage base limit for Social Security taxes depends on the taxpayer's filing status.

• Low-income employees are not required to pay FICA taxes.