Federal Tax Information
All U.S. payrolls are subject to a federal tax component. Below is some of the key data for managing your payroll from a federal perspective.
IRS Assistance for Businesses: 1-800-829-1040
7:00 AM to 10:00 PM your local time
(Alaska & Hawaii follow Pacific Time).
Website: http://www.irs.gov/Businesses
Federal Minimum Wage |
01/17 | |
| Minimum Wage | $7.25 | |
| Minimum Wage For Tipped Employee | $2.13 | |
| Maximum Tip Credit | $5.12 | |
| Youth Minimum Wage | $4.25 |
FICA Social Security |
01/17 | |
| Maximum Earnings | $127,200 | |
| Employer Percentage | 6.2% | |
| Employee Percentage | 6.2% | |
| Employer Maximum Deduction | $7,886.40 | |
| Employee Maximum Deduction | $7,886.40 | |
| Self-Employed Tax | 12.4% |
FICA Medicare |
01/17 | |
| Maximum Earnings | Unlimited | |
| Employee & Employer Percentage | 1.45% | |
| Maximum Deduction | Unlimited | |
| Employee Wages > $200,000 | + 0.9% | |
| Self-Employed Tax | 2.9% |