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The employer FICA rate is 7.65% in 2023. Employees pay an additional 7.65% FICA tax, and self-employed workers pay the full 15.3%.
Employers use Publication 15-T to figure the amount of federal income tax to withhold from their employees wages.
FICA Tax Limit in 2023 This means an employee must continue to pay the required withholding amount for Social Security until their wage docHubes the limit amount. The IRS FICA limit for 2023 is $160,200.
The employer FICA rate is 7.65% in 2023. Employees pay an additional 7.65% FICA tax, and self-employed workers pay the full 15.3%.
IRS Releases Publication 15 (2022), Circular E, Employers Tax Guide | Tax Notes.
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People also ask

The 2023 tax year standard deduction for married couples filing jointly will be $27,700, up $1,800 from the deduction for the 2022 tax year. For single taxpayers, the standard deduction is $13,850, up $900.
Payroll tax rates Social Security 6.2% Medicare 1.45% Additional Medicare 0.9% Unemployment 6% (0.6% with full credit reduction)

2022 tax guide