Question

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

Answer 1

The correct answer is letter "C": FICA.

Step-by-step 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.