The Social Security Administration (SSA) has announced a correction to its previously issued announcement regarding the wage base for computing the Social Security tax in 2018. The corrected amount is $128,400.
In October 2017, the SSA announced that for 2018 the maximum would be $128,700 for 2018.
Also an update on tax reform. The Senate passed their version of tax reform on Saturday morning. The House had earlier passed their version. Now the two sides go to a conference to reconcile the differences of which there are many. We will continue to watch this and let you know as we know more definitive details.
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