Which of the following taxes has a maximum amount an employee must pay in a year?
A)Federal income tax
B)FICA-Medicare tax
C)FICA-OASDI tax
D)Federal Unemployment tax

Question

Quizplus · Accepted Answer

FICA-OASDI tax, also known as Social Security tax, has a maximum amount that an employee must pay in a year. As of 2021, the maximum taxable earnings for Social Security tax is $142,800, meaning any earnings above that are not subject to the tax. The other taxes listed do not have a maximum amount and are based on the employee's earnings.

Which of the Following Taxes Has a Maximum Amount an Employee