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2010 FICA max to remain at $106,800
October 15, 2009
The maximum income subject to the 6.2% FICA tax applied to both employers and employees will remain at $106,800 for 2010. That means the maximim FICA that can be withheld from any employee for 2010 will again be $6,621.60.
There is no maximum for the 1.45% Medicare component of the federal payroll tax. Self-employed taxpayers pay both the employer and employee sides of these taxes via self-employment tax.
This is the first year without a cost-of-living increase in the FICA base since annual adjustments began in 1975.
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Comments
I receiver my pay check on 1/15/10 and noticed that there was a deduction of $8.23
I was informed that there was an increase in the FICA rates. Can you tell me if this is true or not.
Thank you
Posted by: Yvonne Holm | January 16, 2010 1:05 PM