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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 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 years 2020/ 2021/2022
401k Pension Plan Contribution Rate
401k Contribution limits have increased to $ 22 500 (from $ 20 500 in 2022)
401k Catch-up limit 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 wage base limit is $ 147 000
Medicare Tax Rate
Medicare and Additional Medicare tax rates and limits (Additional Medicare) stay the same as in years 2020/ 2021
401k Pension 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 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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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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