Which of the following statements regarding the tax levied under the Federal Insurance Contributions Act (FICA) is true?
A) It is also known more commonly as property tax.
B) It is paid equally by employer and employee.
C) It is not applicable to self-employed persons.
D) It applies only to the first $100,000 of an employee's earnings.
E) It is used to provide insurance against theft.
Correct Answer:
Verified
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