Social Security Tax Wage Limit 2024 Opm. The social security administration deducts $1 from your social security check for every $3 you earn in the months before your birthday above the income limit. In 2024, the social security tax limit is set at $168,600, a notable increase from the $160,200 limit in 2023.

For more information about the structure of the xml files available below, please see the data dictionary Also the tax slab limit for 5% tax.