Max Social Security Tax 2024 Withholding Tax
Max Social Security Tax 2024 Withholding Tax. Fica is a payroll tax, and it's short for the federal insurance contributions act. โ in 2024, the social security tax limit rises to $168,600.
In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600. The rate is for both employees and employers, according to the internal revenue code.