Social Security Limit 2024 Earnings Income Tax Return. People under full retirement age can earn up to $21,240 in 2023 while on social security without penalty. You will pay tax on your social security benefits based on internal revenue service (irs) rules if you:

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. We raise this amount yearly to keep pace with increases in average wages.