Federal Tax
EIC advance payment instructions
Federal forms, explanations and filing addresses
Federal forms, listing
Federal publications, listing
Federal tax calendar
Federal withholding information
- Personal exemption - $3,650 for 2009 and 2010
- Withholding formula
- Supplemental withholding
Social Security (Old age, survivors, and disability insurance):
6.2% on $106,800 in 2009 and 2010 for employee & employer
12.4% on $106,800 in 2009 and 2010 for self employed
Medicare basic hospital insurance
1.45% on all wages (employee & employer)
2.9% on net earnings (self employed)
FUTA wage base and rates
6.2% less credit for contributions to state funds up to 5.4% on $7,000 (employer)
401(k) limit
$16,500 for 2009 and 2010, those age 50 and over can contribute up to $22,000.
Minimum Wage
Hourly minimum rate is $7.25 effective 7/24/09.
