Fica Medicare Rates 2024

Fica Medicare Rates 2024. Fica tax is a mandatory payroll tax funding social security and medicare programs. The rate of social security tax on taxable wages is 6.2% each for the employer and employee.

6.2% for the employee plus 6.2% for the employer; As of 2024, employers and employees each pay 6.2% for social security and 1.45% for medicare.