2021 Federal Wage Tax Rate Summary
FICA / OASDI | 2021 Current Year | 2020 Prior Year |
Employee rate | 6.2% | 6.2% |
Maximum liability – employee | $8,853.60 | $8,537.40 |
Employer rate | 6.2% | 6.2% |
Maximum liability – employer | $8,853.60 | $8,537.40 |
Wage limit | $142,800.00 | $137,700.00 |
Medicare | 2021 Current Year | 2020 Prior Year |
Employee and Employer rate | 1.45% | 1.45% |
Maximum deduction / liability (each) | No limit | No limit |
Wage limit | No limit | No limit |
Additional employee rate on wages exceeding $200,000 | 0.9% | 0.9% |
FUTA | 2021 Current Year | 2020 Prior Year |
Employer rate | 0.6% | 0.6% |
Wage limit | $7,000 | $7,000 |
Social Security Benefits (Earned income may be received without forfeiting benefits) | 2022 Current Year | 2021 Prior Year |
Under full retirement age | $18,960.00 | $18,240.00 |
After full retirement age | No limit | No limit |