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Bookmark or Share- IRS Guidance Allows Workers a Payroll Tax 'Holiday' - SHRMSocial Security is financed by a 12.4 percent payroll tax on wages up to employees' taxable earnings cap—$137,700 for 2020—with half (6.2 percent) paid by workers and the other half paid by ...
- 2020 Payroll Taxes Will Hit Higher Incomes - SHRMFor employers and employees, the Medicare payroll tax rate is a matching 1.45 percent on all earnings (self-employed workers pay the full 2.9 percent), bringing the total Social Security and ...
- 2024 Benefit Plan Limits & Thresholds Chart - SHRMMaximum earnings subject to Social Security 12.4% FICA payroll tax (6.2% paid by employer and 6.2% paid by employee) $168,600 $160,200 +$8,400 Source: Social Security Administration.
- 2022 Wage Cap Jumps to $147,000 for Social Security Payroll Taxes - SHRMSocial Security is financed by a 12.4 percent payroll tax on wages up to the taxable earnings cap, with half (6.2 percent) paid by workers and the other half paid by employers. Self-employed ...
- 2023 Social Security Tax Limit Increase - SHRMThis article has been updated. S tarting Jan. 1, 2023, the maximum earnings subject to the Social Security payroll tax will increase by nearly 9 percent to $160,200—up from the $147,000 maximum ...
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