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An employee has an annual salary of $202,200. The employee pays $3000 per year in...

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Accounting

An employee has an annual salary of $202,200. The employee pays $3000 per year in FSA, $2000 per year in HSA, $800 per year in LFSA, $2500 in DCA, and $2700 per year in health insurance. Calculate the total amount of money that the IRS will receive for this employment in payroll taxes and unemployment insurance from the employee. Use the following tax information:
SS tax is 6.2% with wage cap of $175,000
Medicare tax is 1.65%
FUTA is 8% on first $8,000 and 6.4% credit is given to employer who pays SUTA on time.
SUTA is 6.7% with wage cap of $19,500
Assume that the employer does not pay SUTA on time.
Assume employee has no tax dependents
Assume employee will not prefer high deductible insurance plan
Remember to show (type in this document) all the steps and all the calculations.

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