Latest Employment Tax Rates for Payroll Are Now Listed on Maxmoneyzone.org
In his latest Maxmoneyzone.org tax information article series, tax preparation planner Frank Ellis reveals that payroll tax rates for Social Security FICA this year will not change. He also reveals earnings thresholds and that Social Security tax is split between the employer and employee, totaling 12.4 percent. Significant fines and penalties are issued to those who fail to pay this tax. They're also responsible for interest due on unpaid amounts, Ellis says.
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