In Describing FICA Taxes, Which (If Any) of the Following

question 32

Multiple Choice

In describing FICA taxes, which (if any) of the following statements is incorrect?

• A)The base amounts for 2018 probably will increase from the 2017 amounts.
• B)The base amounts for the Social Security and Medicare portions are the same.
• C)If both spouses work, excess FICA taxes need not result.
• D)Excess FICA taxes can be claimed as an income tax credit.

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Definitions:

Action Potential

A temporary reversal of an electric polarization of the membrane in nerve or muscle cells.

Electrical Signal

An electrical signal is a current or electromagnetic field used to convey data from one system or network to another, often varying in voltage to represent information.

Chemical Signal

A molecule released by cells that carries information to other cells, often triggering a response or action in the receiving cells.

Neurotransmitter Uptake

The process by which neurotransmitters are taken back into the synaptic vesicles of a neuron after the completion of a neural impulse.