Those who work for employers in the United States have Social Security tax taken out of every payment of wages. Self-employed individuals are responsible for calculating the amount of Social Security tax they owe and sen... More »

www.reference.com Government & Politics Social Services

The purpose of the Social Security tax is to fund the current Social Security program, explains Investopedia. The money collected from the tax pays for current retiree’s Social Security benefits, which include a monthly ... More »

www.reference.com Business & Finance Taxes

Social Security tax is a tax applied to income generated from labor. The tax is also known as the Old-Age, Survivors and Disability Insurance, or OASDI. More »

www.reference.com Business & Finance Taxes

The federal Social Security tax is paid by employees and employers at 6.2 percent of an employee's wages, according to the Social Security Administration. Wages up to $118,500 are taxed at this rate, as of 2015. Self-emp... More »

www.reference.com Business & Finance Taxes Income Tax

The Social Security Verification Service allows employers to verify that its employee’s names and Social Security numbers correspond to the Social Security Administration’s records. Employers use it for wage-reporting pu... More »

www.reference.com Government & Politics Social Services

If a Social Security payment is late or missing, individuals may call the Social Security local office, states the Social Security Disability and SSI Resource Center. Another option is to call the toll-free phone number,... More »

www.reference.com Government & Politics Social Services

Social Security workshops typically cover topics such as when to file, how benefits are calculated, how tax penalties may affect benefits and how to maximize benefit payout. Workshops are often presented by financial adv... More »

www.reference.com Government & Politics Social Services