Irs Social Security Tax Cap 2024

Irs Social Security Tax Cap 2024. The rate of social security tax on taxable wages is 6.2% each for the employer and employee. This section will highlight several key changes, focusing on those.


Irs Social Security Tax Cap 2024

The rate of social security tax on taxable wages is 6.2% each for the employer and employee. The earnings used to calculate benefits in retirement are capped at the same level.

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