Social Security Withholding 2024 Limitless. We raise this amount yearly to keep pace with increases in average wages. 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 for 2023).
(for 2023, the tax limit was $160,200. The limit for 2023 and 2024 is $25,000 if you are a single filer, head of household or qualifying widow or widower with a dependent child.