The amount withheld from each of your paychecks to cover federal taxes will depend on several factors, including your income, number of dependents, and filing status. The percentage of your paycheck that is withheld for federal income tax is calculated based on your wages earned over the pay period and the details you provide in your Form W-4. The federal income tax brackets for 2022 are 10%, 12%, 22%, 24%, 32%, 35%, and 37% .

In addition to income tax withholding, the other main federal component of your paycheck withholding is for FICA taxes. FICA stands for the Federal Insurance Contributions Act, and it supports the federal Social Security and Medicare programs. The total due every pay period is 15.3% of an individual’s wages – half of which is paid by the employee and the other half by the employer. This means that each party pays 6.2% for Social Security up to a wage base limit of $160,200 and 1.45% for Medicare with no limit.

To summarize, the percentage of your paycheck that is withheld for federal income tax depends on your income, number of dependents, and filing status. The federal income tax brackets for 2022 range from 10% to 37%. In addition to income tax withholding, FICA taxes are also withheld from your paycheck, with a total due of 15.3% of your wages, half of which is paid by the employee and half by the employer.