Social Security Wage Limit 2024 Increase. The maximum amount of earnings subject to the social security tax (taxable maximum) will increase to $168,600. The internal revenue service has announced an increase in the social security wage base to $168,600, up from $160,000.

Spouses and children who receive retirement or ssdi family benefits could also see their checks increase by 3.2%. The cola increase means your ssdi, ssi, or social security retirement benefits will be 3.2% higher in 2024.