Social Security Tax Wage Limit 2024 Opm. 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 maximum earnings subject to the social security payroll tax will increase by nearly 9%, the social security administration announced.

The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. The wage base limit is the maximum wage that’s subject to the tax for that year.