2024 Fica Limit Wages And Benefits. For 2024, an employer must withhold: Fica requires that 7.65% of an employee’s gross wages get deducted for payment to the federal government, with employers required to match the withholding.
As an employer, you are required to withhold 6.2% of each employee’s taxable gross wages to cover this tax, up to a maximum wage base limit. Fica requires employers to withhold 6.2% social security tax and 1.45% medicare tax from an employee’s gross wages.
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