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Recent Posts
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- When Tips Are Considered Wages
- Limitations on the Losses and Deductions of S Corporation Shareholders
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Category Archives: Social Security
Social Security Tax Rates and the FICA Payroll Tax
The tax rates for the Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program and Medicare’s Hospital Insurance (HI) program are set by law, specifically the Internal Revenue Code of 1986 sections 1401, 3101 and 3111. Under the Federal Insurance Contributions Act (FICA), wages are subject … Continue reading
Posted in Social Security, Tax Law Changes
Tagged FICA, Medicare Tax, Payroll Tax, Social Security, Tax Rates
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