Rasheed works for Company A, earning $401,000 in salary during 2023 Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year? Note: Round your intermediate and final answer to the nearest whole dollar amount.

Rasheed works for Company A, earning $401,000 in salary during 2023 Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year? Note: Round your intermediate and final answer to the nearest whole dollar amount.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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Rasheed works for Company A, earning $401,000 in salary during 2023
Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year?
Note: Round your intermediate and final answer to the nearest whole dollar amount.
Answer is complete but not entirely correct.
Amount of FICA tax
$
16,738

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