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According to this partial W-2, how much money was paid in FICA taxes? Roundanswer to two decimal places. If answer doesn't have two decimal places includezeros so that it does have two decimal places.

According to this partial W-2, how much money was paid in FICA taxes? Roundanswer-example-1
User JKRT
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2 Answers

3 votes

Answer: 2876.66

Explanation:

FICA taxes= Social security tax+ Medicare tax

2397.52 + 479.14=2876.66

User Krystin
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5 votes

Given that

Federal income tax =4594.84

Social security tax withheld = 2397.52.

Medicare tax withheld =479.14.

Recall that The Federal Insurance Contributions Act (FICA) is a U.S. law that mandates a payroll tax on the paychecks of employees, as well as contributions from employers, to fund the Social Security and Medicare programs.

The money was paid in FICA tax =Federal income tax +Social security tax + Medicare tax


=4594.84+2397.52+479.14
=7471.50

Hence the money was paid in FICA tax is $7471.50.

User Faken
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