The federal government defines a ceiling on how much income is required for Social Security taxation. For 2021, thetaxable maximum incomefor OASDI/EE deductions is set at $142,800. This means that employees who have higher annual earnings are only required to pay Social Security taxes o...
Social Security is a federal program that pays retirement, disability and survivors' benefits to qualifying people. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action ...
Description The acronym OASDI stands for Old Age, Survivors and Disability Insurance. OASDI refers to the tax authorized under the Federal Insurance Contributions Act, or FICA. Most workers must pay the OASDI tax, usually through payroll deductions. Those who are not required to pay usually work ...