For the current year, the base amount for the Social Security portion (old age, survivors, and disability insurance) is different from that for the Medicare portion of FICA.

Question

Quizplus · Accepted Answer

The base amount for Social Security is $142,800 for 2021, while the base amount for Medicare is unlimited. This means that individuals earning more than $142,800 will not have to pay Social Security taxes on any amount over this limit, but they will continue to pay Medicare taxes on all of their earnings.

For the Current Year, the Base Amount for the Social