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Show Social Security Tax Rates Boosted Again District Director of Internal Revenue, Roland V. Wise called attention to an increase in Social Security tax rates to become effective ef-fective January 1, 1960, under the Federal Insurance Contributions Contribu-tions Act. The tax rates will increase to 3 per cent for employers and 3 percent for employees, or a total of 6 per cent. These rates will apply to wages paid on or after January 1, 190, even wages are earned prior to that date. The taxes continue to apply to the first $4800 of wages paid by an employer to each employee each year. Internal Revenue Service publications pub-lications containing revised Social So-cial Security tax tables are now avaialble at all Internal Revenue Service offices. |