Fica Rate In 2024. The rate of social security tax on taxable wages is 6.2% each for the employer and employee. What is the fica rate for 2024?

For 2024, the fica tax rate for both employers and employees is 7.65% (6.2% for oasdi and 1.45% for medicare). The total fica tax rate is 15.3%, which is split equally between employees and employers, each paying 7.65% of their income.