On October 11, the Social Security Administration (SSA) announced that the 2019 social security wage base will be $132,900, an increase of $4,500 from $128,400 in 2018 [SSA, Press Release, 10-11-18].
The FICA tax rate remains 7.65% for 2019 up to the social security wage base (see the Social Security Fact Sheet: 2019 Social Security Changes). The maximum social security tax employees and employers will each pay in 2019 is $8,239.80, an increase of $279.00 from $7,960.80 in 2018.
For more information, see the APA Compliance Update, 2019 Social Security Wage Base Announced. Compliance updates are emailed to APA members and are also available on the Compliance Updates web page.
To learn more about federal and state laws, regulations, and information to keep your company's payroll operations in compliance, check out Payroll Source Plus!