2019 Social Security wage base coming soon
The Social Security Administration is a few days away from releasing the 2019 Social Security taxable wage base. Except for tax-free fringe benefits, all wages are subject to the Medicare portion of FICA, since there’s no wage base.
The IRS is scheduled to release the 2019 COLAs for 401(k) and other qualified plans, as well.
CLICK IT: The SSA will probably release the 2019 taxable wage base and related figures sometime during the week of Oct. 15. The IRS should follow shortly after that. Payroll Legal Alert will report all the critical 2019 inflation-adjusted amounts as soon as they’re released. Check in at www.payrolllegalalert.com/2019_inflation_adjustments to find the details once they are released.
And what about tax cut 2.0—the bill that’s supposed to make permanent the Tax Cuts and Jobs Act’s individual income tax rates and provisions, and the continuing saga surrounding the 2019 W-4 form? We’re following these two critical payroll issues at our blog, Payroll Today. Don’t miss a minute of coverage—point your browser to payrolllegalalert.com.