Social Security Tax Limit 2024 Withholding Allowances. For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023). Calculate the estimated payroll taxes due on wages for both employees and employers.

Flat dollar amounts are not accepted. For tax year 2021, once an employee earns $142,800 from an employer, social security taxes are no longer withheld.