Question

Which of the following payroll deductions is required by law? a. flexible spending account b. private retirement account c. FICA

Answer 1

The answer to this question is C. FICA or also known as the Federal Insurance Contributions Act which is required by law in order to have both the employer and employee to fund programs that would benefit the retirees, physically challenged and children of deceased employees (i.e. Social Security)

Answer 2

FICA is a payroll deductions that is required by law. Correct answer:C FICA is an acronym for "Federal Insurance Contributions Act." and denotes the money you pay in taxes is not held in a personal account for you to use when you get benefits.

The Federal Insurance Contributions Act (FICA) is a U.S. law .