A characteristic of FICA is that:

A. None of these.

B. It is imposed only on the employer.

C. It provides a modest source of income in the event of loss of employment.

D. It does not apply when one spouse works for the other spouse.

E. It is administered by both state and Federal government.

Question

Business

Enrique Bean

20 September, 16:05

A characteristic of FICA is that:

A. None of these.

B. It is imposed only on the employer.

C. It provides a modest source of income in the event of loss of employment.

D. It does not apply when one spouse works for the other spouse.

E. It is administered by both state and Federal government.

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Answers (1)

Know the Answer?

Jaden Ayers · Answer 1

The correct answer is letter "A": None of these.

Explanation:

The Federal Insurance Contributions Act (FICA) is a U. S. law that requires a paycheck deduction to be paid to Social Security and Medicare. Employers and employees share half the payments. Self-employed people are responsible for the entire tax amount.

A characteristic of FICA is that:A. None of these.B. It is imposed only on the employer.C. It provides a modest source of income in the event of loss of employment.D. It does not apply when one spouse works for the other spouse.E. It is administered by both state and Federal government.

A characteristic of FICA is that:

A. None of these.

B. It is imposed only on the employer.

C. It provides a modest source of income in the event of loss of employment.

D. It does not apply when one spouse works for the other spouse.

E. It is administered by both state and Federal government.