2020 SOCIAL SECURITY WAGE BASE

2020 SOCIAL SECURITY WAGE BASE

The Old-Age, Survivors, and Disability Insurance taxable wage base is to increase to $137,700 in 2020, up from $132,900 for 2019 with a maximum tax amount of $8,537.40.  After program updates are completed, go to the FICA and FICA-M Deduction Descriptions, Compute tab, and click on the Copy Standard Setup button, then click Select to load the new wage base.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Other Posts

EXPORT BUDGET ACCOUNT MASTERS

Export definitions have been created for exporting expenditure and revenue account masters from the Budget Preparation module. The processes are accessed from Other (on the...

Read More...