What Is The 2024 Social Security Tax Limit. Only the social security tax has a wage base limit. 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).
The social security administration limits the amount of employee earnings that are subjected to social security tax each year. For 2024, that limit is $59,520, up from $56,520 in 2023.