Social Security Max 2024 Income Tax. The $4,873 maximum monthly benefit in 2024 is only applicable for retirees turning 70 this year. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400).
For 2024, the social security tax limit is $168,600. You may have to pay federal income tax.