2024 Social Security Tax Limit Increase Date

2024 Social Security Tax Limit Increase Date. That means the maximum social security tax per worker will be rising by $1041.60 to $20,906.40, with $10,453.20 of that taken directly out of an employee’s paycheck, up from $9932.40 this. The social security tax limit is set each year.

Here’s how the 2025 wage base limit compares to previous years. In november 2024, the maximum social security benefits for retirees at age 70 will be $4,873, with maximum ssi payments at $943 for individuals and $1,415 for couples.