FICA - Payroll Office - Iowa State University

Social Security Information

Social Security Rates

The Federal Insurance Contributions Act (FICA) is made up of two items, Social Security and Medicare taxes. For 2018, the Social Security tax rate is 6.2% on the first $130,500 wages paid. The Medicare tax rate is 1.45% on the first $200,000 and 2.35% above $200,000.

General Information

Federal Regulations require withholding FICA taxes from all employee wage payments except:

Wages earned by students who are enrolled at Iowa State University and are at least half-time students are exempt. Students attain half-time...

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Date: 2018-01-16 14:54:11
Website: http://www.controller.iastate.edu

Related topics : social security and medicare tax rate / social security medicare tax withholding / federal taxes medicare social security / social security medicare payroll tax / social security medicare withholding rates

Combined Income Tax, Employee Social Security Tax, - UncleFed

Combined Income Tax, Employee Social Security Tax, &

Employee Medicare Tax Withholding Tables

If you want to combine amounts to be withheld as income tax, employee social security tax, and employee Medicare tax, you may use the combined tables on pages 35-54.

Combined withholding tables for single and married taxpayers are shown for weekly, biweekly, semimonthly, monthly, and daily or miscellaneous payroll periods. The payroll period and marital status of the employee determine the table to be used.

If the wages are greater than the highest wage bracket in the applicable table, you will have to use one of...

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Date: 2007-03-04 21:36:04
Website: http://www.unclefed.com

Related topics : social security medicare tax forms / federal taxes medicare social security / social security and medicare tax rate / social security medicare tax withholding / social security medicare tax

Employers' Responsibility for FICA Payroll Taxes

On December 1, you are required to withhold Additional Medicare Tax on $20,000 of the $50,000 bonus. You may not withhold Additional Medicare Tax on the other $30,000. You must also withhold the additional 0.9 percent Medicare tax on any other wages paid to Trevor in December 2013.

Calculating the Withholding and Employer's Portion Amounts

You simply multiply an employee's gross wage payment by the applicable tax rate to determine how much you must withhold and how much you must pay in Social Security and regular Medicare taxes.

The Social Security and regular...

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Website: https://www.bizfilings.com

Related topics : social security medicare tax withholding / how to pay social security and medicare taxes / calculating medicare tax withholding 2013 / social security and medicare tax rate / social security medicare payroll tax

Social Security and Medicare: How are Payroll Taxes ...

In the example above, Bob's Social Security taxes would be calculated as follows:

Bob's medicare taxes would be calculated as:

Social Security tax limit for 2017 is $7,886.40

One of the differences between Social Security and Medicare is that Social Security is taxed only on the first $127,200 of taxable wages, or $7,886.40 in taxes. Once you hit that limit, you will no longer be taxed for Social Security in 2017.

Related blog post:� How are Payroll Taxes Calculated? - Federal Income Tax Withholding

How will changing employers affect my limit?

In general, when you change employers, your prior Social Security...

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Website: https://www.zenefits.com

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Payroll Deductions Comparison Calculator (for 2018)

Year-to-date earnings

Your current year gross earnings that were subject to FICA taxes (Social Security tax and Medicare tax). This total should not include the current payroll period or any income from other sources or employers. We use this amount to determine if you are required to have Social Security tax or additional Medicare tax withheld for the current payroll period. Typically, this is...

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Date: 2018-02-05 18:29:13
Website: dinkytown.net

Related topics : social security medicare tax withholding / social security medicare payroll tax / federal taxes medicare social security / social security medicare tax / calculating additional medicare tax

Net to Gross Paycheck Calculator (for 2018)

Year-to-date earnings

Your current year gross earnings that were subject to FICA taxes (Social Security tax and Medicare tax). This total should not include the current payroll period or any income from other sources or employers. We use this amount to determine if you are required to have Social Security tax or additional Medicare tax withheld for the current payroll period. Typically, this is...

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Date: 2018-02-05 18:29:11
Website: dinkytown.net

Related topics : social security medicare payroll tax / social security medicare tax withholding / federal taxes medicare social security / social security medicare tax / calculating additional medicare tax

Payroll Deductions Comparison Calculator (for 2018)

Year-to-date earnings

Your current year gross earnings that were subject to FICA taxes (Social Security tax and Medicare tax). This total should not include the current payroll period or any income from other sources or employers. We use this amount to determine if you are required to have Social Security tax or additional Medicare tax withheld for the current payroll period. Typically, this is...

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Date: 2018-02-05 18:29:13
Website: dinkytown.net

Related topics : social security medicare tax withholding / social security medicare payroll tax / federal taxes medicare social security / social security medicare tax / calculating additional medicare tax

Social Security Payroll Tax Deduction Rate Increase for ...

FICA and Social Security Rates to Remain the Same

However, The Federal Insurance Contributions Act (FICA) tax rate of 7.65% will remain the same for 2018, which is the combined rate for Social...

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Website: https://californiapayroll.com

Related topics : social security and medicare tax rate / social security and medicare payroll rate / social security medicare payroll tax / medicare and social security rate / federal taxes medicare social security

How to Calculate My Payroll Tax With Pretax 401(k ...

The 2012 annual wage limit for Social Security tax is $110,100, while Medicare tax is withheld from all earnings.

Contact your state revenue agency for pretax 401(k) regulations, if applicable. Many states do not require 401(k) contributions to be included in wages for state income tax withholding, but a few do. For example, in Pennsylvania, employers are required to include 401(k) contributions...

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Website: https://finance.zacks.com

Related topics : federal taxes medicare social security / how to pay social security and medicare taxes / social security medicare tax withholding / social security medicare payroll tax / social security medicare tax

Medicare Payroll Tax Goes Up by .9% for High Income ...

Medicare Payroll Tax Goes Up by .9% for High Income Earners

As part of the health care reform legislation passed under the Affordable Care Act, the employee portion of the FICA Medicare payroll tax rate for high income earners will increase by .9% beginning in 2013. The employer portion of the Medicare tax will remain unchanged at 1.45%.

The FICA tax is made up of the Social Security tax and the...

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Website: https://www.bizcheckspayroll.com

Related topics : calculating additional medicare tax / social security medicare tax withholding / social security medicare payroll tax / social security and medicare tax rate / social security medicare tax

FICA & Medicare Payroll Tax Rates for 2013

2013 FICA and Medicare Tax Rates

The rate is 7.65% in total: 6.2% for the Social Security portion and 1.45% for Medicare.

FYI,�this had�been reduced by 2% to 4.2% over the past few years as part of� payroll tax holiday to help with the economic recovery. All of the fiscal cliff discussions did not address this and the rate has reverted back to what�it was 2...

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Website: http://www.osyb.com

Related topics : social security and medicare tax rate / fica and medicare tax rates / social security medicare payroll tax / social security medicare tax withholding / how to pay social security and medicare taxes

What Are Payroll Taxes? - AllLaw.com

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by Rebecca Berlin

Payroll taxes are the state and federal taxes that you, as an employer, are required to withhold and/or to pay on behalf of your employees. You are required to withhold state and federal income taxes as well as social security and Medicare taxes from your employees' wages. You are also required...

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Date: 2018-03-24 13:46:55
Website: http://www.alllaw.com

Related topics : how to pay social security and medicare taxes / federal taxes medicare social security / social security and medicare tax rate / social security medicare tax withholding / social security medicare payroll tax

Medicare Tax Calculator for 2017 - 2018

Medicare Contribution Tax Calculator

Calculating your Federal Medicare Tax Liability is quick and easy with our Medicare Tax Calculator.

Nobody gets excited about paying taxes, but there's a big future benefit to all that cash you fork over for Medicare tax payments.

Medicare is a federal health insurance program US citizens who are 65 years of age or older. Younger...

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Date: 2017-10-17 14:38:17
Website: http://medicaretaxcalculator.com

Medicare Tax Identification Number | Medicare Timeline

Medicare Tax Identification Number

The Medicare tax rate is 1.45% each for the employee and employer, unchanged

from ... 2014, any entity with an employer identification number. Dec 19, 2013�...

Dec 18, 2013 ... The Medicare tax rate is 1.45% each for the employee and employer ... 2014, any

entity with an employer identification number. (EIN) must file�...

The Medicare Identification Number,...

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Website: http://www.medicaretimeline.com

Who Pays for Social Security? | National Academy of Social ...

Have you seen "Social Security: Americans Agree?" Click here to learn more.

Social Security: Just the Facts Video

Have you seen, "Social Security: Just the Facts?" Click here to learn more.

COVERED : a week-by-week look at the political and legislative developments that led to the creation of Medicare and Medicaid 50 years ago. Bob Rosenblatt, Academy senior fellow and former Los Angeles Times...

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Date: 2018-03-24 13:48:22
Website: https://www.nasi.org

Related topics : how to pay social security and medicare taxes / federal taxes medicare social security / social security medicare payroll tax / social security medicare tax / social security medicare premiums 2017

What is Social Security and the Benefits for Non US Citizens

Social Security Disability Benefits

These three Social Security programs are all funded by payroll tax deductions--that means by every worker in America. (See Social Security Programs: Survivors Benefits, Disability Benefits, and Retirement Benefits ). Once you are in the Social Security system, you begin accumulating credits towards future Social Security benefits. Once you are eligible for...

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Date: 2018-01-10 17:25:16
Website: http://www.foreignborn.com

Understanding The Social Security Changes In 2017 | Trax ...

A number of social security changes are expected for 2017. Specifically, the wage base which is subjected to taxation is expected to grow from $118,500 to $127,200. Upon reaching this threshold, employees will no longer be subject to social security tax withholding. It has also been recently announced that over sixty five million people will receive COLA , or a cost of living adjustment of 0.3...

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Website: https://www.traxpayroll.com

How to Calculate Social Security & Tax Payments | Chron.com

As an employer, you must calculate the Social Security, Medicare and income taxes to withhold from your employees for each payroll you process. Each employee contributes half the Social Security and Medicare tax due, and your company contributes the other half. You may also be required to withhold income tax from your employee, depending on the amount of exemptions he claims on his W-4 form....

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Website: http://smallbusiness.chron.com

Related topics : how to pay social security and medicare taxes / social security medicare tax withholding / federal taxes medicare social security / social security medicare payroll tax / social security medicare tax forms

FICA & Medicare Withholding Rates | Chron.com

4 How Do I Figure FICA for Payroll on an Excel Sheet?

Employers in the U.S. are supposed to withhold FICA tax, also called Social Security tax, and Medicare tax from employees' paychecks. FICA tax is used to provide benefits for retirees and their dependents and the disabled and their dependents. Medicare tax funds the hospital insurance system, which provides medical benefits to eligible...

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Website: http://smallbusiness.chron.com

Payroll Solution: How to Calculate Federal Withholding Tax

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Business Payroll: How to Calculate Federal Withholding Tax

ezPaycheck payroll software is the easy-to-use and flexible...

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Website: http://www.halfpricesoft.com

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What Is Social Security Tax Withheld on Tips & Should I ...

What Is Social Security Tax Withheld on Tips & Should I Include it in My Total Wages Withheld?

by Tara Thomas

; Updated March 15, 2018

If you're in an industry where you are customarily tipped for your services, you are already probably familiar with how it works. You faithfully report your tips to your employer, and trust that the appropriate taxes are being withheld. While this is true in most...

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Website: https://pocketsense.com

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2017 Payroll Taxes Will Hit Higher Incomes - SHRM Online

Maximum earnings subject to the Society Security payroll tax will increase in 2018. For more about 2018�Social Security earnings limits and other tax adjustments--including 2018 income tax brackets--see the SHRM Online article SSA Revises Payroll Tax Cap for 2018; Tax Bill Alters Rates and Brackets .

The maximum amount of earnings subject to the Social Security payroll tax will climb 7.3...

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Date: 2018-03-24 19:19:45
Website: https://www.shrm.org

Social Security Taxable Wage Base Increasing in 2018

The Social Security Administration (SSA) has announced that the maximum earnings subject to Social Security (OASDI) tax will increase from $127,200 to $128,700 in 2018 (an increase of $1,500) [SSA News Release, Social Security Announces 2.0 Percent Benefit Increase for 2018, 10/13/17; SSA Fact Sheet, 2018 Social Security Changes].

The Federal Insurance Contributions Act (FICA) imposes two...

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Website: https://www.payrollpartners.com

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Updated 2018 Income Tax Withholding Tables - Beene Garter

Updated 2018 Income Tax Withholding Tables

January 24, 2018

The IRS released updated income tax withholding tables for 2018 as a result of the passed tax reform legislation. Employers are encouraged to start using the 2018 tables as soon as possible, but no later than February 15, 2018.

Employees can expect to see increases in their paychecks in February, though this will vary depending on how...

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Website: https://beenegarter.com

Related topics : social security medicare tax withholding / social security medicare withholding 2018 / social security medicare payroll tax / medicare withholding tax / social security and medicare tax rate

FICA's Bite: Wages Subject to Social Security Tax to ...

The maximum amount of earnings subject to the Social Security tax (taxable maximum) increasedto $113,700 from $110,100 as of January 2013, the U.S. Social Security Administration (SSA) announced on Oct. 16, 2012.

Social Security and Medicare payroll withholding are collected together as the Federal Insurance Contributions Act (FICA) tax.

By January 1, U.S. employers should have adjusted their...

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Date: 2018-03-24 19:11:41
Website: https://www.shrm.org

What Is Fed Med/EE Tax? | Legalbeagle.com

Fed Med/EE tax is the federal Medicare tax. The Medicare tax is collected on all wages earned in the United States, with only a few rare exceptions. The Medicare tax is 2.9 percent of all wages. Half of that amount (1.45 percent ) is withheld from the employee's paycheck, and the other half is paid by the employer. So, if you are an employee working for somebody who pays you a regular paycheck,...

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Website: https://legalbeagle.com

Non-Tax Levy — Hunter College

A copy of prospective employee's Social Security Card or present original for verification

Form W-9 (Request for Taxpayer Identification Number and Certification)

Full-time students who are United States citizens or Permanent Residents are exempt from Social Security and Medicare payroll taxes and possibly Federal, State and/or City income taxes. A receipt from the Bursar's Office confirming...

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Website: http://www.hunter.cuny.edu

Related topics : social security medicare payroll tax / federal taxes medicare social security / how to pay social security and medicare taxes / social security medicare tax forms / social security and medicare payroll rates 2015

The Arc | Social Security Issues

Social Security Issues for People with Disabilities�

Our nation's Social Security system provides benefits to over 59 million Americans , including over 11 million people with disabilities. It insures individuals and family members for when a worker retires, dies, or acquires a qualifying disability. Social Security is a lifeline for people with disabilities, who often rely on benefits for the...

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Website: https://www.thearc.org

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Module 1: Payroll Taxes and Federal Income Tax Withholding

Students will be able to

identify the types and uses of payroll taxes.

explain how federal income taxes are used.

distinguish between gross and net pay.

describe how employers withhold and remit taxes.

explain the purpose of Form W-4.

Background

Social Security tax and Medicare tax are types of payroll taxes . Social Security tax, also known as the "Federal Insurance Contributions Act" (FICA)...

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Date: 2017-08-30 01:57:04
Website: https://apps.irs.gov

Medicare Age In Information - Maine

Frequently Asked Questions Regarding Your Health Insurance

For State of Maine Retirees and Their Dependents

Who do I contact to find out if I qualify for Medicare?

Your local Social Security Administration office. Click here to search for the Social Security Office Locator.

How do I qualify for Medicare benefits?

When you work and pay Social Security taxes, you earn "credits" toward Social...

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Website: http://www.maine.gov

National Committee to Preserve Social Security and Medicare

The National Committee to Preserve Social Security and Medicare (NCPSSM) is a United States advocacy group whose goal is to protect Social Security and Medicare . NCPSSM works to preserve entitlement programs through direct mail campaigns, candidate endorsements, incumbent ratings, grassroots activity, issue advertising, and campaign contributions. [2] [6]

NCPSSM promotes tax increases as a way...

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Date: 2018-03-12 12:43:57
Website: https://en.wikipedia.org

Related topics : national committee to preserve social security and medicare / social security and medicare payroll rates 2015 / social security benefits medicare / social security medicare payroll tax / social security medicare appeal form

How to Calculate FICA Withholding | Chron.com

How to Calculate FICA Withholding

by W D Adkins; Updated March 15, 2018

Comstock Images/Comstock/Getty Images

4 How Do I Figure FICA for Payroll on an Excel Sheet?

When you run a business, you are required to calculate payroll withholding for Social Security and Medicare, collectively referred to as FICA. Calculating these payroll taxes is simple because they are both based on fixed percentages...

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Website: http://smallbusiness.chron.com

Tax Brackets (Federal Income Tax Rates) 2000 through 2017 ...

Where Tax Brackets Apply

"Taxable Income" above is really Regularly Taxed Income minus Adjustments, Deductions, and Exemptions.

Payroll Tax (Social Security and Medicare), and Qualified Dividends and Long Term Capital Gains are separate...

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Date: 2017-12-28 14:06:13
Website: http://www.moneychimp.com

Related topics : social security medicare payroll tax / social security and medicare tax rate / federal taxes medicare social security / social security medicare tax / deduct medicare tax

Social Security, Medicare Outlooks Worsen - Yahoo

Pressure to reform Social Security and Medicare intensified Monday with the release of key reports showing that the financial condition of both programs, particularly Social Security, continue to worsen.

7 Steps to Reach Your Retirement Goals.]" data-reactid="12">[See 7 Steps to Reach Your Retirement Goals .]

The nation's primary retirement program has moved three years closer to being unable to...

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Website: https://www.yahoo.com

The problem with Trump's 'plan' to save Social Security ...

The problem with Trump's 'plan' to save Social Security

by Tami Luhby � @Luhby October 31, 2016: 8:38 AM ET

Trump adviser on the need to reform social security

Donald Trump says he won't touch Social Security if he becomes president.

He wouldn't have to, he believes: His plan to boost economic growth to at least 4% would take care of Social Security's long-term problems.

If only it were so...

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Website: http://money.cnn.com

Related topics : campaign to save social security and medicare / social security medicare plans / social security medicare savings program / social security medicare payroll tax / social security benefits medicare

5 Common Types of Payroll Withholdings | Employers Resource

Gross income is your employee's salary before anything is withheld, resulting in a net pay.

Net Pay is the take home amount, after taxes and any of these common withholdings are deducted.

1. Federal Income Tax

The employee decides how much of each paycheck is taken out on their W-4 form for their federal income taxes. If they choose to withhold a lot, they could end up receiving a refund on...

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Date: 2018-03-20 21:34:34
Website: https://www.employersresource.com

Related topics : federal taxes medicare social security / social security medicare tax withholding / how to pay social security and medicare taxes / social security medicare tax forms / social security medicare tax

How is Medicare funded? | Medicare - Sharecare

Medicare costs about $277 billion per year, roughly 13 percent of the total federal budget.

Funding comes partially from payroll taxes, through provisions of the Federal Insurance Contributions Act. FICA deductions from Americans' paychecks finance Social Security and Medicare. The Medicare tax rate is 2.9 percent-half withheld from employees' pay and half provided by employers.

High-income Social Security beneficiaries also pay income tax on their benefits, some of which goes toward Medicare. The money goes into a trust fund used to pay doctors, hospitals and private insurance companies when Medicare patients use their services. This trust...

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Website: https://www.sharecare.com

2015 Federal Payroll Tax Rates | Abacus Payroll

For Social Security, the tax rate is 6.20% for both employers and employees (Maximum Social Security tax withheld from wages is $7,347.00 in 2015). For Medicare, the rate remains unchanged at 1.45% for both employers and employees.

Additional Medicare Tax

A 0.9% additional Medicare tax must be withheld from an individual's wages paid in excess of $200,000 in a calendar year. There is no...

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Website: http://abacuspay.com

Related topics : social security and medicare tax rate / social security and medicare payroll rates 2015 / federal taxes medicare social security / social security medicare payroll tax / how to pay social security and medicare taxes

Payroll tax - Wikipedia

See also: Taxation in the United States and Federal Insurance Contributions Act tax

In the United States, payroll taxes are assessed by the federal government, some of the fifty states (Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming do not have state income tax; New Hampshire and Tennessee only tax income from interest and dividends), the District of Columbia, and numerous...

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Date: 2018-03-17 00:26:02
Website: https://en.wikipedia.org

Related topics : federal taxes medicare social security / social security medicare tax withholding / social security medicare payroll tax / how to pay social security and medicare taxes / social security and medicare tax rates for 2009

Is My Social Security Income Or Disability Taxable?

Are There Types of Income That Are Not Considered Social Security Income?�

Social Security income does not include Supplemental Security Income payments. Those payments are not taxable.�

If Social Security is My Only Income, Is It Taxable?�Do I Have to File a Tax Return?�

Your Social Security income is almost never taxable and you may not need to file a tax return (your benefits would...

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Website: https://www.efile.com

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How are W-2 taxable wages calculated for Federal (box 1 ...

Begin with social security/Medicare taxable wages, whichever is greater,�shown in box 3 or 5 of the W-2.

II.�Add back wages that were exempt from social security and Medicare�but not from income tax. These amounts are found in the "Earnings" section of�your earnings statement.�However, they will only be found on the earnings statements for the periods in which you received these...

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Website: http://www.michigan.gov

Related topics : social security and medicare wages / how to pay social security and medicare taxes / calculating medicare taxable wages / federal taxes medicare social security / social security medicare tax withholding

Tax Rates on Commissions Vs. Salary | Chron.com

As an employer, you have a responsibility to withhold the proper federal income taxes, Social Security and Medicate taxes from your employee's ordinary income. The IRS defines ordinary income as wages, salaries, commission and other forms of compensation. In can be a little bit difficult to distinguish when a commission is treated as regular income or as supplemental income. Regular wages are...

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Website: http://smallbusiness.chron.com

Related topics : federal taxes medicare social security / social security medicare tax withholding / social security and medicare tax rate / how to pay social security and medicare taxes / social security medicare tax forms

Social Security and Medicare finances worsen | cleveland.com

Associated Press fileTrays of printed Social Security checks wait to be mailed from the U.S. Treasury's Financial Management services facility in Philadelphia.

Updated at 4:11 p.m.

WASHINGTON -- The continuing U.S. recession has worsened the financial health of the government's two biggest benefit programs, figures released Tuesday showed.

Medicare, the main medical program for the elderly and...

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Date: 2016-12-04 07:14:23
Website: http://www.cleveland.com

Related topics : how to pay social security and medicare taxes / social security medicare and government pensions / social security and medicare finances worsen / cost of social security and medicare per year / social security medicare payroll tax

A Guide to the 2017 Social Security and Medicare Trustees ...

The public trustees for Social Security and Medicare have been essential to the oversight of program finances since the official positions were established in 1983. These individuals are tasked with ensuring that the trustees' reports for Social Security and Medicare--the primary sources of information on the programs' finances--are developed in an objective manner.

Unfortunately, for the past...

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Website: https://bipartisanpolicy.org

Related topics : social security and medicare finances worsen / social security and medicare tax rate / social security medicare savings program / social security medicare payroll tax / social security and medicare payroll rate

Social Security Benefits To Increase By 2% In 2018

Monthly Social Security benefits for more than 66 million Americans will increase by 2% in 2018, the largest increase in retirement and survivor benefits for workers and their families since 2012. The higher payments will begin in January.

The average retirement benefit will increase by $27 per month to $1,404 per month next year. The maximum benefit for someone who retires at full retirement age...

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Date: 2018-03-24 04:56:02
Website: http://www.investmentnews.com

Social Security: Many pay more in taxes than they'll get ...

Social Security: Many pay more in taxes than they'll get back

by Tami Luhby � @Luhby April 14, 2013: 11:48 PM ET

Up until now, Social Security has been a windfall for many retirees: They collected far more in benefits than they shelled out in taxes.

That's changing. Many of those retiring will have paid more into the coveted entitlement program than they will get back.

Here are the numbers:

A...

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Website: http://money.cnn.com

Related topics : how to pay social security and medicare taxes / social security and medicare tax rate / social security medicare payroll tax / social security medicare tax / social security disability benefits medicare under 65

Reporting Your Taxes - California Tax Service Center

Contact Us

Reporting Your Taxes

If you are going to be in business, you'll want to know what types of business taxes may apply, including:

State and Federal Income Tax

This is a tax on you and/or your business's net income. If your business entity is a sole proprietorship, or you have a net profit reported on your individual income tax return from a partnership or...

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Website: http://www.taxes.ca.gov

Related topics : federal taxes medicare social security / how to pay social security and medicare taxes / social security medicare tax withholding / social security medicare tax forms / social security and medicare withholding for self employed

What Are the Standard Payroll Deductions? | Sapling.com

Standard payroll deductions include those required by law, called statutory deductions. Federal, state and local governments levy taxes on wages and salaries. Employers then must withhold the appropriate amounts from each employee's paycheck. In addition, many workers consent to voluntary deductions from wages.

The W-4 form helps employers determine employees' tax rates.

credit: Igor...

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Website: https://www.sapling.com

Related topics : social security and medicare tax withholding rates 2015 / social security and medicare tax rate / social security medicare payroll tax / social security medicare tax forms / social security medicare withholding rates 2015

Social Security finances worsen: trust funds will run dry ...

The trustees said in their annual report that Congress should address the programs as soon as possible, but no action is likely before the November election.

(William Thomas Cain/Getty Images)

THE ASSOCIATED PRESS

Monday, April 23, 2012, 4:10 PM

WASHINGTON -- High energy prices and an economy that has been slow to rebound are worsening Social Security's finances, shortening the life of the trust...

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Website: http://www.nydailynews.com

Raising cap on social security tax best way to fix ...

Commentary o By John Irons o June 17, 2009

Thank you Chairman Kohl, Ranking Member Martinez, and other members of the committee for inviting me to testify today.

The Social Security system has been the bedrock of retirement security for Americans for over half a century. Over the years, the system has evolved in response to changing conditions. As is well known, program outlays are expected to...

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Website: http://www.epi.org

Related topics : social security medicare payroll tax / how to pay social security and medicare taxes / social security medicare tax forms / social security and medicare tax rates for 2009 / social security and medicare tax rate