Social Security Tax Wage Limit 2024 Increase. The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200. The limit on annual earnings subject to social security taxes is referred to as the taxable maximum or the social security tax cap.
The social security administration (ssa) recently announced that the wage base for computing social security tax will increase for 2024 to $168,600. But that limit is rising in 2024, which means seniors who are working and collecting social security.
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