Add. Simplify, If Possible

question 172

Multiple Choice

Add. Simplify, if possible.
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Definitions:

FICA Social Security Taxes

Taxes collected under the Federal Insurance Contributions Act (FICA) to fund the Social Security program, which provides benefits for retirees, the disabled, and children of deceased workers.

FICA Medicare Taxes

A specific portion of the FICA tax that is dedicated to funding Medicare, the U.S. government's health insurance program for seniors.

Federal Unemployment Tax

A tax paid by employers to fund the federal government's oversight of the state unemployment insurance programs.

State Unemployment Tax

A tax that employers are required to pay to the state, typically used to fund unemployment compensation benefits for workers who have lost their jobs.