What has changed in 2021 with regard to social security and medicare taxes?
240 views | Last modified 4/24/2023 5:40:25 AM EST | Added by TaxBandits Team

The rate of social security tax on taxable wages, including qualified sick leave wages and qualified family leave wages for leave taken after March 31, 2021, is 6.2% each for the employer and employee (12.4% for both). Qualified sick leave wages and qualified family leave wages for leave taken before April 1, 2021, aren't subject to the employer share of social security tax and the tax rate on these wages is 6.2%. The social security wage base limit is $142,800. 
Deferral of employer and employee shares of social security tax has expired.
The Medicare tax rate is 1.45% (0.0145) each for the employee and employer, unchanged from 2020.