Rates and Limits



2016 Annual rates

  • Social Security Rates: 6.2%
  • Medicare Rates: 1.45% (same for Employer and Employee)
  • FUTA Taxable Wage Base: $7,000
  • FUTA Rate: 6%
  • WA Employment Security Wage Limit: $44,000
  • WA State Minimum Wage Limit: $9.47 per hour

IRS Payroll Forms

2016 Business Mileage

  • Business Mileage Rate*: $.54 per mile
  • *Can be used only if taxpayer owns/leases a passenger auto, van, pickup, or panel truck not for hire (e.g., as a taxi) that was not depreciated under ACRS, MACRS or Sec. 179 in earlier years.

2016 Qualified Retirement Plan Limits

  • Pretax contributions for 401(k) and SEP plans and 403(b) annuities: $18,000
  • Workers aged 50 and over (catch-up): $6,000
  • Pretax contributions for Simple plans: $12,500
  • Workers aged 50 and over (catch-up) for Simple Plans: $3,000

Important IRS Phone Numbers

  • For small corporations, partnerships and trust, including applications for a new EIN or help on employment taxes: 800-829-4933
  • Tax Help Line for Individuals: 800-829-1040
  • Business and Specialty Tax Line: 800-829-4933
  • Refund Hotline: 800-829-1954
  • National Taxpayer Advocate‚Äôs Help Line: 877-777-4778
  • NOTE: Forms and Publications can be accessed at www.irs.gov.