Which of the following is a true statement with respect to FICA? Select one: a. W-2 employees and 1099 independent contractors performing work for the same company must have FICA taxes withheld by the company they work for. b. FICA was passed in 1945 c. FICA is imposed on both employers and employees d. Partners of a business organized and taxed as a partnership are subject to FICA
Which of the following is a true statement with respect to FICA? Select one: a. W-2 employees and 1099 independent contractors performing work for the same company must have FICA taxes withheld by the company they work for. b. FICA was passed in 1945 c. FICA is imposed on both employers and employees d. Partners of a business organized and taxed as a partnership are subject to FICA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is a true statement with respect to FICA?
Select one:
a.
W-2 employees and 1099 independent contractors performing work for the same company must have FICA taxes withheld by the company they work for.
b.
FICA was passed in 1945
c.
FICA is imposed on both employers and employees
d.
Partners of a business organized and taxed as a partnership are subject to FICA
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