an employee earned $45,400 during the year working for an employer when the maximum limit for social security was $137,700. the federal insurance contributions act (fica) tax rate for social security is 6.2% and the federal insurance contributions act (fica) tax rate for medicare is 1.45%. the employee's annual federal insurance contributions act (fica) taxes amount is: multiple choice $6,946.20. $6,287.90. $3,473.10. $2,814.80. $658.30.