Social Security Limit 2024 Withholding 2024. The social security administration announced it will decrease the default overpayment withholding rate for social security beneficiaries to ten percent (or $10, whichever is. In 2023, you paid social security taxes on work income up to $160,200.
The social security administration limits the amount of employee earnings that are subjected to social security tax each year. The rate of social security tax on taxable wages is 6.2% each for the employer and employee.
Social Security Limit 2024 Withholding 2024 Images References :