Fica Limit 2024 Dollar Amount 2024. The social security administration (ssa) announced that the poll (election) worker threshold for tax year 2024 has increased by $100. Employers are legally obligated to withhold 6.2% for social security taxes and 1.45% for medicare taxes from an employee’s gross wages.

For both of them, the current social security and medicare tax rates are 6.2% and 1.45%, respectively. Social security wage base limit for 2024: