the IRMAA brackets (what I’ve been calling thresholds) are only inflation indexed AFAIK. Fifth Tier: There is a $384. 70 for 2024, an increase of $9. 84%. Everyone in retirement earns some sort of income whether it is pension, Social Security, W2 wages, investments or a combination of these. If your income reduced in 2023 or 2024, but you still end up in the same income range as shown on your 2022 tax return…then an appeal won’t help you. That’s $15,651 that will stay in their pocket. 50 for those with IRMAAs equal to or greater. The 2023 income thresholds are $97,000 for individuals and $194,000 for married couples filing jointly. For those unaware of IRMAA, the two-year lag can create unpleasant surprises when you first enroll in Medicare—especially if your. It’s how it works! As you’re probably aware, the standard premium for Medicare Part B is $170. $500,000 on an individual return or above $750,000 on a joint return will pay $594 per month, up from $560. While your AGI will be locked in on Dec 31, 2023, only 4 of the 12 inflation numbers that 'lock in' the 2025 IRMAA brackets will be known. 50 in 2019. 2023 tax brackets. 10 ; $340. The IRMAA brackets and surcharges in 2021 are: What is the income that CMS uses for IRMAA?. For 2023, the thresholds are $97,000 and $194,000. Supply: Medicare Prices, Medicare. 00% for IRMAA-Part B and for IRMAA-Part D the surcharges will inflate by 5. Check out this great listen on Audible. From 2022 to 2023 the CPI-U, if inflation remains constant, will increase by 5. dcop wrote: ↑ Thu Sep 28, 2023 8:06 pm Curious about what others are using for a safe MAGI estimate for 2023 income for 2025 Standard Level IRMAA. Details on the five IRMAA brackets, whose income levels are adjusted each year: Those with income from $97,001 to $123,000 on an individual return or from $194,001 to $246,000 on a joint return will pay $230. The possible 2024 IRMAA Brackets (not official)The Centers for Medicare & Medicaid Services (CMS) today announced that the average basic monthly premium for standard Medicare Part D coverage is projected to be approximately $31. These figures change annually with. 80 from $164. In addition, the 2021 Part D income-related monthly adjustment amounts to be paid by beneficiaries who are married but file separate returns from their spouses and live with their spouses at any time during the taxable year, are as follows: Beneficiaries who are married andFor 2023, IRMAA kicks in if your 2021 MAGI was over $97,000; for married couples filing joint tax returns, above $194,000. 90 per month in 2023. 30. To illustrate this challenge, note that numerical examples here use the 2023 tiers, based on 2021 income, but it is likely (e. For 2023, the immunosuppressive drug premium is $97. Cumulative Tax. For any other filing status, the threshold is $97,000. 2023 IRMAA Brackets. 90 in 2023. Married Submitting Collectively: >= $750,000. During this same time, through President Barrack Obama’s Budget, IRMAA surcharges were ordered, beginning in 2017, to be increased. ”IRMAA stands for the Income Related Monthly Adjustment Amount. Based on a thorough understanding of the 2023 tax brackets, we can then logically come up with the. It is very difficult to pin down the "optimum" amount of Roth conversion due to many unknowns. Medicare-eligible retirees and their Medicare-eligible dependents can submit an IRMAA application if they paid above the standard amount of $170. 65%. These figures change annually with. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. The average total monthly Part D premium is projected to decrease from $56. These tables are used to adjust Medicare premiums based on adjusted gross income. However, by law, the IRMAA Brackets adjust according to the Consumer Price Index for Urban Consumers (CPI-U). outlining the Medicare Part B premium including IRMAA and proof of Medicare Part B paymentsThe standard monthly premium for Medicare Part B enrollees will be $148. IRMAA can apply to either Medicare Part B or Medicare Part D premiums. For example, a married couple with taxable income of $83,550 is at the top of the 12% bracket. com This post about IRMAA Brackets for 2023. Finally, CMS announced the income brackets and rates for the Medicare premium surtax for 2023, also known as IRMAA (income-related monthly adjustment amount), that is imposed on higher income. 40 ($712. 2022 IRMAA Brackets for Medicare Premiums. According to latest Medicare Board of Trustees report from the IRMAA brackets will increase by over 6. 37%: Co-Insurance days 91 > 3. The Half D IRMAA surcharges are comparatively smaller in {dollars}. The tax rate schedules for 2023 will be as follows. The Centers for Medicare/Medicaid Services ( CMS) defines income as: “adjusted gross income plus any tax-exempt interest”. 70 per month in 2022 under CRS estimates, and $234. For 2023, IRMAA kicks in if your 2021 MAGI was over $97,000; for married couples filing joint tax returns, above $194,000. If you are in one of the higher income brackets for the Part B IRMAAs, there is an additional IRMAA for the Part D Drug Coverage. Those numbers are obtained from your IRS Form 1040: Line 2a: Tax-exempt interest income. The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $174. For an inflation rate of -10%. That income falls within the 12% marginal federal income tax rate, which is low. The author updates usually every month when pertinent inflation data becomes available. Individuals making more than $91,000 will pay a higher amounts. How much more depends on how much you exceed these numbers. Monthly Medicare premiums for 2023 If You Disagree with Our Decision Learn More The law requires an adjustment to your monthly Medicare Part B (medical insurance) and. 4 x Standard <= $256,000. Larger-income Medicare beneficiaries additionally pay a surcharge for Half D. $362. The IRMAA 2023 threshold for married couples is $194,000. 10 for. My capital gains tax would be $750, but my Part B and Part D IRMAA surcharges would remain at $860. Thankfully they are under IRMAA, but by age 84 they will reach that first bracket. Due to the projected costs being lower than the predictions, Medicare beneficiaries will pay a lower cost for the Medicare Part B deductible and monthly premium. Annual deductible: $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022. 6 Strategies for Avoiding IRMAA Issues. The standard monthly premium for Medicare Part B enrollees will be $174. The standard Part B premium for most people in 2024 is $174. 70 in 2024. The subsidy amounts can be found in table 2. As the table below shows, surcharges incurred at each of the six IRMAA income brackets will increase Medicare Parts B and D premiums from 35% to 214%. 90 in 2023. . Their RMD will total just over $15,000. The IRMAA rates for 2023 will be announced later in 2022 and will be based on your MAGI for the. 030: IRMAA Determination Process: TN 3 11-10: HI 01101. In order to appeal IRMAA you will need to fill out form SSA-44 titled “Medicare Income-Related Monthly Adjustment Amount – Life Changing Event”. 80 more than the $164. The “standard premium” for 2023 is $31. 2025 IRMAA Per Person. 1105. In 2024, that standard Part B premium sits at $174. 30 $578. g. Medicare Open Enrollment and Medicare Savings Programs Beginning in 2023, certain Medicare enrollees who are 36 months post kidney transplant, and therefore are no longer eligible for full Medicare coverage, can elect to continue Part B coverage of immunosuppressive drugs by paying a premium. Q: What. File individual tax return. The standard monthly premium for Medicare Part B enrollees will be $174. IRMAA is calculated based on tax brackets. 50. The 2022 Medicare Part B premium will be $170. You pay higher Medicare Part B and Part D premiums if your income exceeds certain thresholds. m. 0% risk score trend) and 33% of the risk score trend calculated with the updated model. Medicare IRMAA is a monthly adjustment amount that higher income earners must pay more for Part B and D premiums. 65%. 90 Medicare Prescription Drug Coverage (Part D) Extra Help Eligibility Requirements: Individual must: • be entitled to Part A or Part B (or. In this article, I’m sharing everything you need to know about the 2023 IRMAA Brackets (and the projected 2024 IRMAA brackets!). For 2023, the standard Medicare Part B premium is $164. Note: unfortunately, the previous 2 Medicare Board of Trustees Reports (2022 and 2021) due to circumstances on coverage and Covid-19 do not reflect. This establishes how much of your Medicare Part B and D premiums you must pay out, based on the MAGI income range. In 2024, if your income is more than $103,000 per year, you’ll pay an IRMAA of $12. 2. 90 in 2023. In March, the Medicare trustees estimated that the monthly Part B. The updated table for 2023 can be found below. 2023 IRMAA Brackets. However, due to the annual inflation adjustments, people with MAGI at the bottom of a bracket last year will now be at the to . The usual Half B premium is $164. Suppose you’re single and your 2021 modified adjusted gross income placed you at the top of the first 2023 IRMAA bracket, which is $97,000 to $123,000. Facebook; Twitter;. Here are the brackets for 2023: 2021 Individual tax. 20 per month and Part B IRMAA is $65. 9% increase. Medicare Part B and Part D Prescription Drug coverage for year 2023 IRMAA tables. 10. IRMAA is reassessed each year, so whether you’re subject to IRMAA and which bracket you fall into can change from year to year. adjustment amount (IRMAA) and you experienced a life-changing event that may reduce your IRMAA. I’m also sharing: What is IRMAA (and what does it stand for) How IRMAA. However, high earners could be saddled with a monthly payment of up to $560, depending on their income bracket. 94%. 90 per month for those in the lowest income-adjustment bracket. Back in 2021 Bob and. If your MAGI is above a certain amount, however, you may need to pay an "Income-Related Monthly Adjustment Amount" (IRMAA-B). The resulting answer is the total amount you will pay (standard premium plus. If inflation is negative, which is rare but still possible, the IRMAA brackets for 2023 may be lower than these. ( Check out the 2023 Part D IRMAA amounts here . 50 a month extra for Part D drug coverage, although I take no medications. If taxable income is over $89,450 but. The table below shows the sum of the Part B Premium, Part B IRMAA, and Part D IRMAA for the higher income brackets for 2023. The additional monthly premiums (as IRMAA surcharges) range from $230. $0 for the first 60 days of each benefit period. 90 in 2023, a decrease of $5. 20 : $442. Individual MAGI Couple MAGI Part B Premium; $80,000. 20 : $442. 90 in 2023. Policy. Today I’m sharing everything you need to know about the 2023 IRMAA Brackets (and the projected 2024 IRMAA brackets!). 6% and, at $23,000 over, the tax rate is 18. The Half D IRMAA surcharges are comparatively smaller in {dollars}. The Kiddie Tax thresholds are increased to $1,250 and $2,500. 40 in additional monthly premiums for Medicare Part D prescription drug coverage. 20 and $76. In 2023, beneficiaries must pay a coinsurance amount of $400 per day for the 61 st through 90 th day of a hospitalization ($389 in 2022) in a benefit period and $800 per day for lifetime reserve days ($778 in 2022). 2023 IRMAA Brackets. Part D – 4. 70 for 2024, an increase of $9. Medicare recipients with 2022 incomes exceeding $103,000 (single filers) or $206,000 (married filing jointly) will pay a premium between $244. 033: IRMAA and Equitable Relief: TN 4 07-11: HI 01101. 90 each month on top of the cost of your Part D premium. In 2023, surcharges for Medicare Part B range from an extra $65. 2021 Annual Income: Individual 2021 Annual Income: Filing Jointly 2021 Annual Income: Filing Separately Medicare Part B Premium 2023. If your MAGI is below these numbers, then you are not responsible for IRMAA. Beginning in 2023, certain Medicare enrollees who are 36 months post kidney transplant, and therefore are no longer eligible for full Medicare coverage, can elect to continue Part B coverage of immunosuppressive drugs by paying a premium. The MAGI used to determine if the income-related monthly adjustment amount (IRMAA) applies is the most recent tax information that IRS is able to provide. The annual deductible for all Medicare Part B beneficiaries is $203 in 2021, an increase of $5 from the annual deductible of $198 in 2020. No coding skills required; just pick a template and start designing. The monthly premium for that tier will be $230. 7 percent cost-of-living increase for benefits. 031: How IRMAA is Calculated and How IRMAA Affects the Total Medicare Premium: TN 25 10-23: HI 01101. 8% in 2024, from $56. The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount Medicare beneficiaries pay in addition to your Part B or Part D premium if their income is above a certain level. Because we have a marginal income tax rate, if you are bumped into the next higher tax bracket, only your extra dollars of income over the limit are taxed at the higher. So-called income-related adjustment amounts, or IRMAAs, which are. you could face paying $2,000 or more in annual Medicare premiums. 80 + $147. 90 in 2023. If inflation runs 0% for the next 11 months, then the IRMAA bracket would be $210,000. 90 per month to an extra $395. So, for 2024, the SSA looks at your 2022 tax returns to see if you must pay an IRMAA. Normally we make under $100,000/year filing jointly but a sale of investment property threw us into a much higher bracket. See the chart below to find how much your IRMAA payment will be in 2023. The SSA provides a chart to show you what you can expect in. 2023 Medicare IRMAA Chart. 60. 90 in 2023, a 5. If the taxpayer does not send the tax return in after filing Form SSA-44, SSA will receive such data later from the Internal Revenue Service, in which case if more IRMAA should have been paid, it will be even later than if the taxpayer mailed the tax return in to SSA, and the total. B. 2023 Half B premium. So the 2025 IRMAA brackets which will be applied to your 2023 MAGI will likely be somewhat higher. 2nd Surcharge Bracket: 6:42%. August 26, 2023 kuadey@gmail. / Updated October 28, 2022. adjustment amount (IRMAA) and you experienced a life-changing event that may reduce your IRMAA. Historical Medicare IRMAA Brackets 2007 – 2023. 90 for those in the lowest IRMAA bracket. 90 in 2023, which is down $5. IRMAA is an acronym that is otherwise known as the Income-Related Monthly Adjusted Amount. In addition, all individuals pay a surcharge of $170. Even the 2025 IRMAA brackets are not 'locked in' as it is predicated on the inflation adjustment from Sept 2023 - Aug 2024. However, if you have your 2023 tax return completed, then include a copy of your return with the IRMAA paperwork…again, assuming 2023 and 2024 are in the same range. First, it is important to note that the official IRMAA Brackets for 2024 have not yet been released. 60 in 2020. 36%. 60 per month for Medicare Part B in 2024. 2. 2023; Treasuries saw first net outflows in two. Substantial Gainful Activity (2023): $1,470 per month for people who are not blind $2,460 per month for people who are blind Trial Work Period Service Month (2023):. The amount of. The surcharge is calculated based on tax returns you reported from two years prior: meaning your 2022 income determines your IRMAA in 2024, your 2023 income determines your IRMAA in 2025, and so on. A step-by-step walkthrough of how to use the Case Study Spreadsheet to estimate tax rates on Roth conversion with Social Security and Medicare IRMAA. Your 2020 income determines your IRMAA in 2022. This Roth Conversion Widget is using the 2023 thresholds with 2023 estimated income to determine if you pay increased Medicare premiums in 2025. 2023 IRMAA Brackets. Medicare Open Enrollment and. The 2023 IRMAA Brackets are: 2023 IRMAA Brackets: Individual’s MAGI: Part B Premium: Part D Premium < $97,000: $164. The surcharge in 2024 will be based on income reflected in 2022. 30 $544. Note: You may also pay a higher premium if you have a Part B or Part D late enrollment penalty. The 2025 IRMAA is determined by 2023 MFJ MAGI, which is over the IRMAA threshold. For example, a married couple with taxable income of $83,550 is at the top of the 12% bracket. That beneficiary bracket would pay $157. Medicare Open Enrollment and Medicare Savings Programs Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. gov. 80 from $164. Break Point. 90 per month, or about 25 percent of expected Part B costs per enrollee age 65 or older. The total amount will represent your 2021 MAGI specific to Medicare and IRMAA in 2023. Medicare Part D. There are five IRMAA income brackets depending on your income and filing status. 1 IRMAA claim processing will begin no later than May 1, 2023. These amounts are added onto your Part B and Part D each month. Reducing Future IRMAA for Medicare Surcharges – 2022 & 2023 Taxes. For 2024, the standard Medicare Part B monthly rate is $174. How much more depends on how much you exceed these numbers. gov, are: There are no premiums for those who qualify through income taxes when they were employed. The income brackets that trigger IRMAA surcharges increased from $86,000 for single taxpayers and $176,000 for married couples in effect in 2021. 2023 Part B premium. 80 from $164. 00% for IRMAA-Part B and for IRMAA-Part D the surcharges will inflate by 5. Your premium is based on gross income (MAGI). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a. Doing so can help keep you in a lower IRMAA bracket in subsequent. For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a. 80 from $164. 20 per. In Original Medicare, these are additional days that Medicare will pay for when you're in a hospital for more than 90 days. If an individual or married couple filing separately earns above $97,000, or if a married couple filing jointly earns above $194,000, they will be subject to IRMAA surcharges that increase their 2023 Medicare Part B. For 2023, IRMAA kicks in if your 2021 MAGI was over $97,000; for married couples filing joint tax returns, above $194,000. $103k is almost certainly going to be the actual number for 2024 (based on 2022 income) for a single. The usual Half B premium is $164. This is where things get tricky. Premiums can be higher or lower than the basic premium for enrollees who receive Part B benefits through the Medicare Advantage program. [RELATED: 2023 Medicare Part B Rates Announced] IRMAA brackets are different from tax brackets. Greater-income Medicare beneficiaries additionally pay a surcharge for Half D. Because we have a marginal income tax rate, if you are bumped into the next higher tax bracket, only your extra dollars of income over the limit are taxed at the higher rate. Here are the 2024 IRMAA amounts for married taxpayers that file separately: Part B Coverage. 80 to as much as $560. Social Security Payment Schedule. You will also have provide your most current Federal Tax Form as evidence. The standard monthly premium for Medicare Part B enrollees will be $174. Since the 2023 IRMAA fees will be based off your 2021 Adjusted Gross Income, you can appeal these fees if you’ve had a “life-changing” event. You'll get this notice if you have Medicare Part B and/or Part D and Social Security determines that any Income Related Monthly Adjustment Amounts (IRMAA) apply to you. Find out more about them and what they may be. MrLoco wrote: ↑ Mon Jan 16, 2023 2:40 pm I have read some of the previous posts on doing Roth conversions beyond the first IRMAA tier to lessen the effects of future RMD's from a TRad. 10: Premium (varies)Similarly, the tax return filed for 2021 will be used to calculate IRMAA surcharges for the year 2023. 80 after paying their Part b premiums for 2023. Note: unfortunately, the previous 2 Medicare Board of Trustees Reports (2022 and 2021) due to circumstances on coverage and Covid-19 do not reflect. Greater-income Medicare beneficiaries additionally pay a surcharge for Half D. This Income-Related Monthly Adjustment Amount (IRMAA) is no small matter, especially with the recent changes in. Continue ReadingWhat you pay for Medicare Part B depends on your income level. The annual deductible for all Medicare Part B beneficiaries will be $240 in. Part B of Original Medicare, commonly referred to as medical insurance, features a standard monthly premium that changes each year ($164. In August, inflation increased 1. I'm leaning towards 103K. refer to the two 2023 tables below for the entire breakdown of IRMAA Medicare surcharge brackets for Parts B and D. 08 in 2022. IRMAA thresholds are adjusted for inflation. The Part D IRMAA surcharges are relatively smaller in dollars. , see 2022 2023 2024 Medicare Part B IRMAA Premium MAGI Brackets) that 2025 IRMAA tiers, based on 2023 income, will have higher breakpoints due to inflation. 90 in 2023. Here’s how it works. That’s equal to a 32% tax rate on my $5,000 in capital gains. 80 to $4,747. Here are the IRMAA income brackets for 2022 2023, and 2024. If one of these events affects a Medicare enrollee, he or she can proactively notify the SSA by using a “ Medicare Income-Related Monthly Adjustment Amount – Life-Changing Event “ form. You pay higher Medicare Part B and Part D premiums if your income exceeds certain thresholds. 010 -. Your 2021 income determines your IRMAA in 2023, etc. [RELATED: 2023 Medicare Part B Rates Announced] IRMAA brackets are different from tax brackets. 92% on average per threshold. The 2022 IRMAA tiers are likely to be published in mid-November 2021. Married Submitting Individually >= $403,000. Married filing jointly. 40 in total premiums and couples will save $124. What Are the IRMAA 2023 Brackets (and How to Avoid It!) By: Taylor Schulte November 6, 2023. 3) to determine the IRMAA. On average the IRMAA Brackets have inflated from 2007 to 2021 as follows: 1st Surcharge Bracket: 4. 3rd Surcharge Bracket: 7. Supply: Medicare Prices, Medicare. The base Medicare Part D premium varies based on which plan you pick. The Social Security Administration (SSA) uses your income tax information. IRMAA is a series of tax cliffs. 80 per month , down from $238. , see 2022 2023 2024 Medicare Part B IRMAA Premium MAGI Brackets) that 2025 IRMAA tiers, based on 2023 income, will have higher breakpoints due to inflation. The IRMAA is based on tax returns from two years before, which means the surcharge in 2023 will depend on a person’s income in 2021. RMD Effect Address required minimum distribution (RMD) requirements well in advance of the required beginning date, explaining how. 2023 IRMAA Brackets. The Budget called for restructuring IRMAA premiums “under Parts B and D by increasing the lowest income-related premium five percentage points, from 35% to 40% and also increasing other. High-income households pay an extra charge—IRMAA—on top of the standard Medicare premium. IRMAA and Medicare Part B. Medicare Part B covers physician services,. This means that the IRMAA Brackets, by law, will increase at the same rate. The annual deductible for all Medicare Part B beneficiaries will be $240. The extra charge for Part B starts at $69. Greater-income Medicare beneficiaries additionally pay a surcharge for Half D. Read More . This is a strategy that requires long-term advance planning. The tax status is broken into: Single, head–of–household, or qualifying widow (er) with dependent child tax filing status. For 2020, the Medicare Part B monthly premiums and the annual deductible are higher than the 2019 amounts. The standard monthly premium for Medicare Part B enrollees will be $174. 90 per month to an extra $395. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. Part B IRMAA is calculated by multiplying the average expenditure (which is the standard premium multiplied by 4) by the subsidy percentage assigned to a particular income bracket. 30 $77. If you earn more. For 2023, IRMAA kicks in if your 2021 MAGI was over $97,000; for married couples filing joint tax returns, above $194,000. 2. The 2023 income limits for Medicare Savings Programs (MSPs) are. 80 from $164. $19,250 of the qualified dividends and long-term capital gains ($89,250 – $70,000) is taxed at 0%. , two years prior), which is $100,788 ($113,788 − $13,000) for this client. 2021 Married & filing separate. I’m also sharing: What is IRMAA (and what does it stand for) How IRMAA is calculated. 6% rate assumes your income was just. Once you cross these thresholds, you will pay more for coverage. IRMAA 2023 presents a complex landscape for higher income earners navigating Medicare costs. The article assumes IRMAA for 2021 applies to 2022 and 2023. Individual $103,000 or less/MFJ $206,000 or less – No surcharge; Individual $129,000 or less/MFJ $258,000 or less – Medicare Part B $244. Based on this year’s standard monthly premium of $170. Beneficiaries Affected by Income-Related Monthly Adjustment Amount (IRMAA) (Premium Year 2021): Program Number of Beneficiaries Affected . Individuals enrolled in Medicare Part B, which covers doctor visits and other outpatient services, will pay a monthly premium of $164. The usual Medicare Half B premium for 2023 is $164. Editor’s Note: The Centers for Medicare & Medicaid Services announced Sept. 2022 Medicare Part D Income Related Adjustment Amount (IRMAA) Income Brackets If your filing status and yearly income in 2020 (filed in 2021) was File individual tax return File joint tax return File married & separate tax return You pay each month for Part D (in 2022) $91,000 or less $182,000 or less $91,000 or less no IRMAA, only yourFollow Mike Townsend on Twitter— @MikeTownsendCS. 10% – $0 to $23,200The cumulative tax rate will be 24% if they convert $165,000 and stop before the second IRMAA tier, 26% if they convert $230,000 and stop before the third IRMAA tier, and so on. Part B Table. IRMAA brackets. Medicare’s Income Related Monthly Adjustment Amount ( IRMAA) is quickly becoming a problem for retirees and by government projections it will not slow down in the near future too. by Devin Carroll. Therefore, the majority of people turning 65 will find their income newly assessed against the IRMAA brackets which determine their premium above and beyond the 2021 $148. In. 70, while Medicare lowered the Part B deductible to $240 for 2023. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. 60; see Tables 1 and 2) in both 2022 and 2023, $1,720. The amount for married people filing a joint tax return will increase from $182,000 in 2022 to $194,000 in 2023. 90 for 2023) and.