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QUICK TAX FACTS

FICA WITHHOLDING
Form 1040; Publications 15, 15-A

 

2003

2004

2005

2006

2007

Social Security component

Base salary

$87,000.00

$87,900.00

$90,000.00

$94,200.00

$97,500.00

Rate

6.20%

6.20%

6.20%

6.20%

6.20%

Maximum

$5,394.00

$5,449.80

$5,580.00

$5,840.40

$6,045.00

 

 

 

 

 

 

Medicare component

Base salary

no limit

no limit

no limit

no limit

no limit

Rate

1.45%

1.45%

1.45%

1.45%

1.45%

Maximum

no limit

no limit

no limit

no limit

no limit

 

The information provided in this "Quick Tax Facts" section is intended as a general guideline only. For the most detailed and up-to-date information, contact us at 518-783-7200, or visit www.irs.gov.


 

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