1935: Original Social Security Act passed, requiring a combined payroll tax of 2 percent on earnings up to $3,000 (first taxes collected in 1937).
1939: Federal Insurance Contributions Act (FICA) established under the Internal Revenue Code.
1950: First payroll tax increase from a combined 2 percent to a combined 3 percent; first earnings records and taxes from self-employment collected (effective 1951)
1951: First taxable maximum increase, from $3,000 to $3,600.
1965: Medicare program signed into law (first Hospital Insurance taxes collected in 1966).
1972: Social Security taxable maximum is indexed to average wages for annual increases (effective 1975).
1978: Earnings reported to SSA on Form W-2; reporting basis changes from quarterly to annual.
1990: The taxable maximum for the Hospital Insurance portion of Social Security increases (effective 1991), and deferred compensation is explicitly identified on individuals' earnings records.
1993: Hospital Insurance taxable maximum repealed (effective 1994).
