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rasikag writes:

Is there any annual limit on withholdings on Social Security Tax and Medicare Tax? Since I changed my employer in the middle of the year, I have no idea if my withholdings have exceeded the limit (in case such a limit exists).

I reply:

As DowDanny says, withholding of Medicare is unlimited, but Social Security is limited. The 1999 limit was somewhat in excess of $72,000 income. If you had too much SS tax withheld, you'll find a line on Form 1040 where you can report the extra withholding, and it will reduce your tax liability or increase your refund, as applicable. --Bob
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