Archive for Posts Tagged ‘social security’

Hand holding magnifying glasses showing the words tax liability on financial paper
Oct

27

2016

SSA Announces Higher Incomes Subject to Payroll Tax in 2017

On October 18, 2016, the Social Security Administration (SSA) announced the maximum amount of earnings that are subject to the Social Security payroll tax will increase in 2017 to $127,200. This adjustment is effective as of January 1, 2017 and equates an $8,700 increase from the maximum for years 2015 and 2016, which was $118,500. According to the SSA, of the estimated 173 million workers…

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Nov

20

2012

FICA Rise

The maximum amount of income subject to the Federal Insurance Contributions Act (FICA) tax will rise.