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The Social Security Administration uses your total yearly earnings to figure out your Social Security credits. The amount needed for one credit in 2022 is $1,510. The maximum amount of credits you ...
From 1957 through 1967, the Social Security Administration will add the extra credits to your record when you apply for Social Security benefits. From 1968 through 2001, you don’t need to do ...
1972 - Social Security Amendments of 1972 (Supplemental Security Income), Pub. L. 92–603 1973 - Social Security Benefits Increase, Pub. L. 93–233 1977 - Social Security Amendments of 1977, Pub. L. 95–216
The Federal Insurance Contributions Act (FICA) (codified in the Internal Revenue Code) imposes a Social Security withholding tax equal to 6.20% of the gross wage amount, up to but not exceeding the Social Security Wage Base ($97,500 for 2007; $102,000 for 2008; and $106,800 for 2009, 2010, and 2011). The same 6.20% tax is imposed on employers.
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