Social Security Tax Limit 2024 Withholding
Social Security Tax Limit 2024 Withholding. Generally, each employer for whom you work during the tax year must withhold social security tax up to the annual limit. For earnings in 2024, this base is $168,600.
For tax year 2021, once an employee earns $142,800 from an employer, social security taxes are no longer withheld. This amount is known as the “maximum taxable earnings” and changes each year.