IRS Releases 2024 Publication 15-T

IRS Releases 2024 Publication 15-T "Federal Income Tax Withholding Methods" on Dec 19, 2024. 

The  Social Security maximum earning increases to $168,600 per year. In addition to withholding Medicare tax at 1.45%, you must withhold a 0.9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year.


Tax Maximum Earnings Rate
Social Security Tax $168,600.00 6.20% for the employee and 6.2% for employer
Medicare Unlimited 1.45% for employee and employer
over $200,000 ($250,000 for married couples filing jointly) Additional 0.9% for the part in excess of $200,000 in a calendar year. Employee only.


The tax rate is still in 10%, 12%, 22%, 24%, 32%, 35% and 37%.

The top marginal income tax rate of 37 percent will be above $615,350 for single filers and above $747,500 for married couples filing jointly.


The Publication 15-T is the same as its drafts version released on Dec 12, 2023. has the latest 2024 federal tax table.

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