HR, Payroll and Benefits News

2022 Social Security and Medicare Tax

The Social Security Tax wage base will increase to $147,000 in 2022 from $142,800. This means that the first $147,000 of an employee's taxable wages are subject to Social Security Taxes. An Employee and the UW System will each pay 6.2% on taxable wages up to $147,000.

The Medicare Tax remains the same for 2022. Both the UW System and the Employee pay 1.45% on all taxable compensation. Any taxable wages that exceed $200,000 ($250,000 for married couples filing jointly) are subject to an additional 0.9% tax.

Source: UW System Human Resources