2024 Social Security Maximum Withholding. The social security wage cap is $168,600 in 2024, up from $160,200 in 2023. You can ask us to withhold federal taxes from your social security benefit payment when you first apply.

If you will reach fra in 2024, social security withholds $1 in benefits for every $3 in earnings above $59,520 (up from $56,520 in 2023) until the month when you. We call this annual limit the contribution and benefit base.