Tom's gross pay for the month is $2,700.Tom's deduction for federal income tax is based on a rate of 21%.Tom has no voluntary deductions.Tom's yearly pay is under the limit for OASDI.What is the amount of FICA tax withheld from Tom's pay? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. )

Question

Quizplus · Accepted Answer

FICA withheld = FICA-OASDI Tax of 6.2% + FICA-Medicare Tax
FICA withheld = ($2,700 × 0.062)+ ($2,700 × 0.0145)= $206.55

Tom's Gross Pay for the Month Is $2,700