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Social security and Medicare tax for 2011.
This is my site Written by Administrator on December 24, 2010 – 10:43 am

For 2011 the employee tax rate for social security is 4.2% (down from 6.2% for 2010). The employer tax rate for social security remains unchanged at 6.2%. The 2011 social security wage base limit is $106,800. In 2011, the Medicare tax rate is 1.45% each for employers and employees, unchanged from 2010. There is no wage base limit for Medicare tax.

Employers should implement the 4.2% employee social security tax rate as soon as possible, but not later than January 31, 2011. After implementing the new 4.2% rate, employers should make an offsetting adjustment in (each day of the payroll period) a subsequent pay period to correct any overwithholding of social security tax as soon as possible, but not later than March 31, 2011.

Para el año 2011 la tasa de retención del seguro social para el empleado será 4.2% (era 6.2% en el 2010). La tasa de aportación del patrono permanecerá en 6.2%. El tope anual del seguro social será $106,800. La tasa de retención de Medicare será 1.45% tanto para el patrono como para el empleado. No hay tope anual para la retención del Medicare.

Los patronos deberán implementar éstos cambios a la mayor brevedad posible, no mas tarde del 31 de enero de 2011. Luego de implementar los cambios se deberán hacer los ajustes pertinentes en la retención para compensar por cualquier sobre retención del seguro social. Esto deberá realizarse antes del 31 de marzo de 2011.

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