Bloomberg Tax
Oct. 13, 2021, 4:09 PM

Social Security Wage Base Rises to $147,000 for 2022

Jazlyn Williams
Jazlyn Williams

The Old-Age, Survivors, and Disability Insurance taxable wage base will increase to $147,000 in 2022, up from $142,800 for 2021, the Social Security Administration said Oct. 13 in a news release.

The maximum 2022 Social Security component of the Federal Insurance Contributions Act tax payable by each employee is $9,114, which is 6.2% of the taxable wage base, up from $8,853.60 for 2021. Employers match the employee amount with an equal contribution.

The Medicare tax rate remains 1.45% and is applicable to all wages paid during the year. An additional Medicare tax of 0.9% applies to individuals with annual ...