The Social Security Administration (SSA) this week announced a change to the maximum amount of earnings subject to the Social Security tax (taxable maximum) in 2018, which it had previously announced in October. The new amount for 2018 is $128,400, up from $127,200 in 2017, and takes effect in January.

SSA’s October announcement had set the 2018 taxable maximum at $128,700. The agency attributed the change to corrected W-2s provided to SSA in late October.

Click here to read the SSA announcement in its entirety.

To learn more about Social Security benefits, please visit our section on Social Security.