Which of the following statements is false regarding an employee's contribution into a 401(k) tax deferred retirement account? a.The employee's contributions are not subject to FICA tax. b.Upon retirement, payments are then subject to federal income tax. c.Upon retirement, the employee will receive their contributions back in the form of regular payments. d.The employee may be in a lower tax bracket when the retirement income is taxed. e.None of these statements are correct

Which of the following statements is false regarding an employee's contribution into a 401(k) tax deferred retirement account? a.The employee's contributions are not subject to FICA tax. b.Upon retirement, payments are then subject to federal income tax. c.Upon retirement, the employee will receive their contributions back in the form of regular payments. d.The employee may be in a lower tax bracket when the retirement income is taxed. e.None of these statements are correct

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 1BCRQ

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