The amount of social security and Medicare tax withheld from your pay appears in Boxes 4 and 6 of IRS Form W-2. There is a maximum amount of wages subject to social security tax. For 2011 and 2012, the social security tax for employees was reduced by 2 percent. The 2 percent reduction expired at the end of 2012.

2011-2012

The maximum amount of wages subject to the social security tax (4.2 percent) for 2011 and 2012 is $110,100. There is no limit on the amount of wages subject to the Medicare tax (1.45 percent).

2013 Changes

The maximum amount of wages subject to the social security tax (6.2 percent) for 2013 is $113,700. There is no limit on the amount of wages subject to the Medicare tax (1.45 percent).

2014

The maximum amount of wages subject to the social security tax (6.2 percent) for 2014 is $117,000. There is no limit on the amount of wages subject to the Medicare tax (1.45 percent).

Additional Information:

• High-income earners also pay an additional 0.9 percent in Medicare taxes on earnings above certain amounts. See Questions and Answers for the Additional Medicare Tax for more information.
• If you are self-employed, you must make estimated tax payments for social security and Medicare taxes. See the IRS Self-Employed Individuals Tax Center for more information.
• See the Social Security Administration's Electronic Fact Sheet for more information.