The employer and employee each pay a tax of about _____ percent of the employee's paycheck into Social Security for OASDI only?

Name: The employer and employee each pay a tax of about _____ percent of the employee's paycheck into Social Security for OASDI only?
Brand: Quizplus
Rating: 4.8 (49 reviews)

Question

Quizplus · Accepted Answer

Both the employer and employee pay 6.2% of the employee's paycheck into Social Security for OASDI (Old-Age, Survivors, and Disability Insurance) only, for a total of 12.4%. This tax is mandated by the Federal Insurance Contributions Act (FICA).

The Employer and Employee Each Pay a Tax of About