Question: what is the federal social security tax rate for 2020?
Answer: The OASDI tax rate for wages paid in 2020 is set by statute at 6.2 percent for employees and employers, each. Thus, an individual with wages equal to or larger than $137,700 would contribute $8,537.40 to the OASDI program in 2020, and his or her employer would contribute the same amount.