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28 September, 12:31

What is the amount of Medicare tax that needs to be deducted from an employees pay if they were hired after 4/1/86?

A 6.20

B 3.45

C 1.45

D 7.5

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Answers (1)
  1. 28 September, 12:50
    0
    (C) 1.45

    Explanation:

    FICA, the Federal Insurance Contributions Act (FICA) includes both Social Security and Medicare, which is the federal health insurance program for Americans who are 65 and above.

    Wages up to $132,900 are taxed 6.2% since 2019 for Social Security, and wages with no limit are taxed at 1.45% for Medicare. The employer removes those amounts and forwards the total to the federal government.
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Home » Business » What is the amount of Medicare tax that needs to be deducted from an employees pay if they were hired after 4/1/86? A 6.20 B 3.45 C 1.45 D 7.5
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