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This section is not visible for the user. It is required only to create the page properties report.
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This article describes how to set up the rates for calculating US taxes, Social Security, Medicare,etc.
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Introduction
For the latest information about developments related to Pub. 15-T, such as legislation enacted after it was published, go to https://www.irs.gov/forms-pubs/about-publication-15-t
https://www.irs.gov/prior-year-forms-and-instructions?find=Publ%2015&items_per_page=200&order=prior_year_products_picklist_revision_date&sort=desc - forms for previous years.
Social Security, Medicare Taxes and 401(k) Contribution Rates
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Rates: (reference: 2020 Publication 15 (irs.gov), Publications 15T, Recent 15T)
2025
Social Security Tax Rate
Social Security tax rate is the same as in 2021/22 - 6.2% (amount withheld) each for the employer and employee (12.4% total)
Social Security wage base limit has increased to $176,100 (from $168,600 in 2024)
Medicare Tax Rate
Medicare and Additional Medicare tax rates and limits (Additional Medicare) stay the same as in years 2020/ 2021/2022:
1.45% (amount withheld) each for the employee and employer (2.9% total)
There is no wage base limit for Medicare Tax; all covered wages are subject to Medicare Tax
Additional Medicare Tax withholding
0.9% Additional Medicare Tax in excess of $200,000 in a calendar year
No employer share for Additional Medicare Tax ( go to this site for other information about additional Medicare Tax http://IRS.gov/ADMT )
401k Pension Plan Contribution Rate
401k Contribution limits have increased to $ 23 500 (from $ 23 000 in 2024)
401k Catch-up limit remains the same - $ 7 500
2024
Social Security Tax Rate
Social Security tax rate is the same as in 2021/22 - 6.2% (amount withheld) each for the employer and employee (12.4% total)
Social Security wage base limit has increased to $168,600 (from $160,200 in 2023)
Medicare Tax Rate
Medicare and Additional Medicare tax rates and limits (Additional Medicare) stay the same as in years 2020/ 2021/2022
401k Pension Plan Contribution Rate
401k Contribution limits have increased to $ 23 000 (from $ 22 500 in 2023)
401k Catch-up limit remains the same - $ 7 500
2023
Social Security Tax Rate
Social Security tax rate is the same as in 2021/22 - 6.2% (amount withheld) each for the employer and employee (12.4% total)
2. Social security Security wage base limit has increased to $160,200
Medicare Tax Rate
Medicare and Additional Medicare tax rates and limits (Additional Medicare) stay the same as in year years 2020/ 2021/2022
401k Pension
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Plan Contribution Rate
401k Contribution limits has have increased to $ 22 500 (from $ 20 500 in 2022)
401k Catch-up limit remains the same - has increased to $ 7 500 (from $ 6 500 in 2022)
2022
Social Security Tax Rate
Social Security tax rate is the same as in 2021 - 6.2% (amount withheld) each for the employer and employee (12.4% total)
Social security Security wage base limit is $ 147 000
Medicare Tax Rate
Medicare and Additional Medicare tax rates and limits (Additional Medicare) stay the same as in year years 2020/ 2021
401k Pension
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Plan Contribution Rate
401k Contribution limit has increased to $ 20 500 (from $ 19 500 in 2020)
401k Catch-up limit remains the same - $ 6 500
2021
Social Security Tax Rate
Social Security tax rate is the same as in 2020 - 6.2% (amount withheld) each for the employer and employee (12.4% total)
Social security Security wage base limit is $ 142 800
2020
Social Security Tax Rate
Social Security tax rate is 6.2% (amount withheld) each for the employer and employee (12.4% total)
Social security wage base limit is $137,700
Medicare Tax Rate
1.45% (amount withheld) each for the employee and employer (2.9% total)
There is no wage base limit for Medicare Tax; all covered wages are subject to Medicare Tax
Additional Medicare Tax withholding
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Withhold a flat 22% (no other percentage allowed).
If the supplemental wages are paid concurrently with regular wages, add the supplemental wages to the concurrently paid regular wages and withhold federal income tax as if the total were a single payment for a regular payroll period.
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Note: the flat Tax Rate on Supplemental Wages is hardcoded in the Tax Defition file and can be updated by Adonis support if the Rate changes, though it has stayed the same for many years now. |
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Every year the US tax rates are updated, to maintain the correct calculations in Adonis, when a new payroll year is opened, a new Tax Definition file must be imported to the system. Though , the new rates are never published before the year starts, and normally are either published in January or even later, to keep the calculations running in Adonis the Tax Definition file still has to be updated and imported to the system.
After the new rates are published, Adonis will create a new file for import. Please see files below by year.
2025 .Def Tax file
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2024 .Def Tax file
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2023 .Def Tax file
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