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Common errors in state and local government fica

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Read the article, "Common Errors in State and Local Government FICA and Public Retirement System Compliance," and then use the Internet to research additional information on the topic. Wikipedia is not an acceptable research tool. Respond to the following:

State and Local governmental entities have special laws for FICA withholding under the Social Security Act. It may shock you to hear that not everyone pays Social Security and/or Medicare taxes. After researching this topic, discuss your thoughts on this special provision and the reasons why it is important for a governmental accountant to know about this. Explain why this could be a material amount for inclusion in financial statement audits.

Note: You are highly encouraged to review the supplemental videos in this week's Instructional Materials as you prepare for this week's discussion.

Reference no: EM133206081

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