Question

true or false? a federal law called FICA requires employers to deduct 6.2% for Medicare and 1.45 percent for Social Security

Answer 1

Answer: true

Explanation:

Hi, FICA taxes are payroll taxes; it means that they are based on the amounts paid to employees.

These types of taxes are paid by the employer and the employees .The employers must withhold these taxes from employee paychecks and pay them to the Internal Revenue Service (IRS).

• The Social Security Portion is 6.2 percent

• The Medicare portion is 1.45 percent for each employee, on all employee earnings.