Social Security Taxable Income Limit 2024 Irs. That means that the maximum amount of social security tax an employee will pay (through withholding from their. 8, 2024 washington โ the internal revenue service today announced monday, jan.
You are not required to pay any social security tax on income that goes past the wage base limit, which for 2024 is $168,600, up from $160,200 in 2023. Up to 85% of your social security benefits may be subject to taxes at your ordinary income tax rate, but 44% of people wonโt owe any income taxes on their social.