Federal Tax Information

Federal Forms, Explanations and Filing Addresses

Federal Forms Listing

Federal Publications Listing

Federal Tax Calendar

Federal Withholding Information

Federal Regular Withholding Formula here.

Federal Supplemental Withholding Formula here.

Personal exemption - $3,700 for 2011, $3,800 for 2012

Social Security (Old age, survivors, and disability insurance):
4.2% on $106,800 in 2011 for employee, $110,100 for 2012 (withholding rate not released yet)
6.2% on $106,800 in 2011 for employer, $110,100 for 2012
10.4% on $106,800 in 2011 for self employed, $110,100 for 2012 (withholding rate not released yet)

Medicare basic hospital insurance
1.45% on all wages (employee & employer)
2.9% on net earnings (self employed)

FUTA wage base and rates
Effective June 30, 2011, 6.0% less credit for contributions to state funds up to 5.4% on $7,000 (employer). Prior to June 30, 2011, 6.2% less credit for contributions to state funds up to 5.4% on $7,000 (employer). If you are entitled to the maximum 5.4% credit, the FUTA tax rate after credit is 0.8% (0.6% after June 30, 2011). Certain states have lost part or all of this credit.  Employers in those states need to check with their labor department to determine the current allowed credit for the state in question.

401(k)

Contribution limit is $16,500 for 2011 ($17,000 for 2012), those age 50 and over can contribute up to $22,000 ($22,500 for 2012).

Minimum Wage
Hourly minimum rate is $7.25 effective 7/24/09.

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