Examlex
Which of the following statements is NOT correct?
Social Security Tax
A tax that funds the Social Security program, deducted from employees' salaries and matched by employers, supporting retirees, disabled workers, and survivors.
Federal Income Tax
This is a tax levied by the United States Internal Revenue Service on the annual earnings of individuals, corporations, trusts, and other legal entities.
Social Security Tax
A tax that funds the Social Security program, typically collected as part of the FICA tax.
Medicare Tax
A federal tax that finances the Medicare program, split equally between employers and employees, based on a fixed percentage of an individual’s earnings.
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