Social Security Income Tax Limit 2024 Lok. You will pay tax on your social security benefits based on internal revenue service (irs) rules if you: The wage base or earnings limit for the 6.2% social security tax rises every year.

As your total income goes up, you’ll pay federal income tax on a portion of the benefits while the rest of your. You are not required to pay any social security tax on income that goes past the wage base limit, which for 2024 is $168,600, up from $160,200 in 2023.