does your income on your taxes include social security wages
The total amount withheld from your wages for the payment of federal income taxes â. report this amount on your federal tax return, form 1040. Top. Box 3 â Social security wages. The dollar amount that social security taxes are assessed on at the rate of 6.2% (change. to 4.2%) for the employee. Your employer also contributes to the social security system on. your behalf at the rate of 6.2%.