Withholding Tax for Social Security Goes to 6.2% of Wages - John R. Dundon II, Enrolled Agent
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Withholding Tax for Social Security Goes to 6.2% of Wages

07 Jan Withholding Tax for Social Security Goes to 6.2% of Wages

Posted at 00:00h in Employment Tax, FICA, Paying Taxes, Payroll Tax Problems, Self Employ, Small Business, Sole Proprietor, Sub-chapter S, Tax Guidance & Preparation, Tax Problems & Requests by
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Contrary to the manufactured ‘news’ dribbling out of the main stream media to sell advertising, last week the IRS published updated employer’s withholding guidance clearly stating that employers are to now withhold Social Security tax at the rate of 6.2 percent of wages rather than the previous rate of 4.2 percent in place for the past two years.

Alas THOSE OF US IN THE ‘MIDDLE CLASS’ WITH JOBS ARE ALL PAYING MORE TAX!!

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