Use the 2021 FICA tax rates, shown, to answer the following question.
If a taxpayer is not self-employed and earns $140,000, what are the taxpayer's FICA taxes?
Matching Rates Paid by the
Employer
Employee's Rates
7.65% on first $142,800 of 7.65% on first $142,800 paid
income
in wages
1.45% of income in
excess of $142,800
1.45% of wages paid in
excess of $142,800
The taxpayer's FICA taxes are $
(Round to the nearest cent as needed.)
Self-Employed Rates
15.3% on first $142,800 of net
profits
2.9% of net profits in excess
of $142,800
...


(What are the Taxpayers FICA taxes?)