Max Social Security Payment Tax 2024 2024. Employees pay 6.2 percent of their income up to the wage base,. This amount is known as the “maximum taxable earnings” and changes each.
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 estimated average social security benefit for retired workers in 2024 is $1,907 per month.