Irs Social Security Tax Limit 2024

Irs Social Security Tax Limit 2024. 21, 2024 updated 11:08 a.m. The rate of social security tax on taxable wages is 6.2% each for the employer and employee.

We raise this amount yearly to keep pace with increases in average wages. An employee who chooses to participate in an fsa can contribute up to $3,200 through payroll.