Social Security cards have been the core document used to verify identity but that could change. Currently, the cards are not very durable when compared to other forms of ID or IDs from other countries. As a result, the Social Security Administration (SSA) is looking into revamping the card using more durable materials or using […]
The Social Security Administration announced that the 2019 social security wage base for calculating the social security tax (OASDI) will increase to $132,900, up from $128,400 for 2018. For 2019, individuals who participate in 401(k), 403(b), and most 457 retirement plans will be able to contribute $19,000, up from $18,500 for 2018. The additional catch-up […]
The IRS and the SSA recently announced increases to limits that will affect 2018 payroll and withholdings. Please see the highlights below. Social Security Wage Base for 2018: The Social Security wage base will increase to $128,700, up from $127,200 in 2017. The maximum Social Security tax that employers and employees will each pay is […]
by Marie Jett, CPA | Manager, Tax Services Group 2012 FUTA Rates for Indiana Employers When employers pay their federal unemployment taxes (FUTA), they receive a rate credit when they pay their state unemployment taxes. The FUTA rate for employers is 6%. Employers can receive a rate credit of up to 5.4%, effectively making the […]