onedirectionfanfe89 onedirectionfanfe89

18-12-2019
Mathematics

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What is the purpose of payroll taxes?

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desijenkins5 desijenkins5

18-12-2019

Answer:

These taxes are used to finance social insurance programs, such as Social Security and Medicare. ... The largest of these social insurance taxes are the two federal payroll taxes, which show up as FICA and MEDFICA on your pay stub.

Step-by-step explanation:

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18-12-2019

The purpose of payroll taxes is to get the funding needed to operate social security and Medicare. The money from payroll taxes is also used for unemployment benefits and disability benefits.

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