Revised Social Security Wage Base for 2018

The Social Security Administration had said that the wage base for FICA taxes in 2018 would be $128,700, or $1,500 more than in 2017. However, this wage base has been revised downward to $128,400. This revision also impacts the computation of self-employment tax for 2018, as well as contributions and benefits for qualified retirement plans that are “integrated.”