We are pleased to announce that our annual publication of key federal and state rates and limits is now available for tax year 2020. Included in our publication, US employment tax rates and limits for 2020, you will find:

• Social Security wage base for 2020
• Qualified pension plan limits for 2020        
• Health Savings Account limits for 2019 and 2020 
• Fringe-benefit inflation adjustments and Form W-2 penalties for 2020  
• Federal mileage rates and luxury vehicle limit for 2020    
• Per diem rates under high-low substantiation method for 2020           
• 2019 FUTA credit reduction
• State unemployment insurance wage base limits for 2018 through 2020
• Disability and paid family leave insurance wage base and rates for 2020        
• Federal income tax withholding for 2020
• State income tax withholding tables and supplemental withholding rates for 2020  

Note that federal and state rates and limits can change throughout the year. The amounts shown here were current as of January 15, 2020. Follow us throughout the year for updates.

For the 2019 final rates and limits, view our publication, US employment tax rates and limits for 2019.

A PDF of our 2020 final rates and limits publication is attached below.

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EY Payroll News Flash

US employment tax rates and limits for 2020