Social Security Tax Limit 2024 Withholding Form. The annual tax season is nearing its end today, as the deadline for filing income tax returns (itr) looms, on july 31. This taxable portion goes up as your income rises, but it will never exceed 85%.
You aren’t required to pay the social security tax on any income beyond the social security wage base limit. Submit a request to pay taxes on your social security benefit throughout the year instead of paying a large bill at tax time.