All of the Following Statements Regarding FICA Taxes Are True

question 146

Multiple Choice

All of the following statements regarding FICA taxes are true except:

• A)FICA taxes are deducted from the employee.
• B)Employers must pay withheld FICA taxes to the IRS.
• C)The amount of FICA deducted from the employee is credited to a liability account.
• D)A self-employed person is exempt from FICA taxes.
• E)An employer must pay FICA taxes equal to the amount withheld from the employee.

---

Definitions:

Legally Enforce

The capability to impose compliance or execution of a law, agreement, or obligation through legal processes or judicial intervention.

Assignee

A person to whom an assignment is made.

Obligor

In contract law, the party who is obligated to deliver on a promise or to undertake some act.

Assignment

A legal transfer of rights, benefits, or obligations from one party to another.