All of the following amounts should be verified when auditing annual Social Security tax updates...

Comprehensive and Detailed in-Depth Explanation:

When auditing Social Security tax updates at the beginning of each year, payroll professionals must ensure that the tax rate , annual wage base , and any exclusions from taxable wages are accurate, as these values are subject to change by the IRS. However, gross wages are not a system configuration value that changes annually — they are the result of payroll processing. Thus, there ' s no need to validate " gross wages " as part of a Social Security system update.

Tax Rate: Must match IRS annually issued percentages.

Annual Wage Base: Changes yearly (e.g., $168,600 for 2024).

Taxable Wage Exclusions: Ensure pre-tax deductions (like Section 125 plans) are excluded correctly.