2024 Fica Limit Wages Limit , 2024 Fica Limit Wages Limit. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600. Fica requires employers to withhold 6.2% social security tax and 1.45% medicare tax from an employee’s gross wages. The fica tax limits refer to the social security wage base limit, which is $147,000 for 2022 and $160,200 for 2023. So, if you earned more than $160,200 this last year, you didn’t have to pay the social security. 2024 Fica Limit Wages Limit Images References : 2024
2024 Fica Limit Wages Limit. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600. Fica requires employers to withhold 6.2% social security tax and 1.45% medicare tax from an employee’s gross wages. The fica tax limits refer to the social security wage base limit, which is $147,000 for 2022 and $160,200 for 2023. So, if you earned more than $160,200 this last year, you didn’t have to pay the social security.