The second significant change to Social Security in 2023 is one that'll affect about 6% of the labor force. ... In 2022, earned income between $0.01 and $147,000 is subject to this payroll tax.

In 2022, employees had to pay Social Security taxes on annual income up to $147,000. In 2023, the threshold rises to $160,200, meaning neither you nor your employer will have to pay Social ...

In 2022, the maximum earnings subject to Social Security taxes was $147,000. That is, workers paying into the system are taxed on wages up to this amount, typically at the 6.2% rate.

Published: Nov. 28, 2022, 6:59 a.m. More than 70 million Social Security recipients are in line for an 8.7% increase in 2023, the largest cost-of-living-adjustment in more than 40 years. By ...

Here are some key changes to Social Security happening next year – and what you need to know. ... With inflation soaring in 2022, the extra money will help seniors and others make ends meet.