Irs Social Security Tax Cap 2024. You file a federal tax return as an individual and your combined income is between $25,000 and $34,000. If you are working, there is a limit on the amount of your earnings that is taxed by social security.
As your total income goes up, you’ll pay federal income tax on a portion of the benefits while the. 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.
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