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31 January, 16:30

Which of the following taxes are paid by the employee and the employer? a. FUTAb. SUTAc. FICAd. Federal withholding taxes

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  1. 31 January, 17:40
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    The correct answer is letter "C": FICA.

    Explanation:

    FICA (Federal Insurance Contributions Act) tax is a mandatory deduction taken from employees' payment to cover elder American's Social Security and Medicare. It is a 12,4% deduction financed by two parts: half of that amount is taken from the worker's paycheck and the other half is paid by the employer.
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