What is the maximum FICA contribution for 2020?
What is the maximum FICA contribution for 2020? $8,537.40 The Federal Insurance Contributions Act (FICA) tax rate, which is the combined Social Security tax rate of 6.2% and the Medicare tax rate of 1.45%, will be 7.65% for 2020 up to the Social Security wage base. The maximum Social Security tax employees and employers will each pay in 2020 is $8,537.40. What is Max FICA contribution? The maximum Social Security tax per worker will be $18,228—or a maximum $9,114 withheld from a highly paid employee's 2022 paycheck. Workers and their employers each pay a 6.2% Social Security tax; the self-employed...