In response to corrected W-2’s from 2016, the Social Security recently decreased the projected 2018 Old-Age, Survivors, and Disability Insurance (OASDI) taxable wage base from $128,700 down to $128,400. The approximately 500,000 corrected forms were submitted by an unnamed payroll-service provider in late October.
With this change, the maximum 2018 OASDI portion of the Federal Insurance Contributions Act tax payable by each employee is $7,960.80, rather than the $7,979.40 under the original numbers released in October. Employers match the employee amount with an equal contribution. The OASDI wage base for 2017 is $127,200.