FICA is an example of a payroll tax, which is a tax on the wages that firms pay their workers.

Name: FICA is an example of a payroll tax, which is a tax on the wages that firms pay their workers.
Brand: Quizplus
Rating: 5.0 (53 reviews)

Question

Quizplus · Accepted Answer

FICA, which stands for the Federal Insurance Contributions Act, is indeed a payroll tax that both employers and employees pay to fund Social Security and Medicare programs.

FICA Is an Example of a Payroll Tax, Which Is