On October 13, the Social Security Administration announced that the Old Age, Survivors, and Disability Insurance (“OASDI”) wage base will increase to $142,800 for 2021. The 3.7% increase follows a 3.6% increase in the wage base for 2020 and a 3.5% increase for 2019. Wages in excess of the wage base paid by an employer to an employee are not subject to social security tax. As a result of the increase, the maximum amount of social security tax paid by an employee in 2021 will be $8,853.60, an increase of $316.20 from 2020. The maximum amount of social security tax paid by an employer for an employee in 2021 will increase by the same amount.