Many of the adjustments are important for employees, their paychecks, and their basic tax planning for 2019. Social Security Wage BaseSocial Security tax (6.2%) applies to wages up to a maximum amount per year set annually by the Social Security Administration. To avoid “penalizing” additional income in your mind, be sure you know your effective or average tax rate. Here are resources with more details on the many adjusted 2019 tax numbers:• IRS Rev. See also IRS Announces 2019 Tax Rates from Forbes.com blogger Kelly Phillips Erb.

Source: Forbes January 09, 2019 22:07 UTC