Question

The amount of fica tax that employers must pay is twice the amount of the fica taxes withheld from their employees. true or false

Answer 1

It is false that the amount of fica tax that employers must pay is twice the amount withheld from their employees. In fact, the employer and the employee both contribute equal shares to the fica tax. In 2018, the rate each must pay is 7.65 percent on the first $128,400 an employee earns. The Social Security tax is 6.2 percent, and the Medicare tax is 1.45 percent.