What Is The 2024 Social Security Tax Limit Increase . We raise this amount yearly to keep pace with increases in average wages. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600. Social security benefits are on pace for a 3% cola in 2024.
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Social Security Tax Limit 2024 Withholding Table Staci Corrina , The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400).
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