of self-Employment income above contribution and benefit base after 2024 (1) Amendments to Internal Revenue Code of 1986 (A) In general Section 1402(b) of the Internal Revenue Code of 1986 is amended to read as follows: (b) Self-Employment income (1) In general The term self-employment income means the net earnings from self-employment derived by an individual, except that such term shall not include net earnings from self-employment if such net earnings for the taxable year are less than $400. (2) Limitation on OASDI tax For purposes of section 1401(a), the term self employment income shall not exceed the sum of— (A) the total compensation not in excess of the contribution and benefit base (as determined under section 230 of the Social Security Act) which is effective for the calendar year in which such taxable year begins, reduced by the amount of wages not in excess of such base paid to such individual during the taxable year, plus (B) the total compensation in excess of the greater of— (i) $250,000, or (ii) the amount of wages paid to such individual during the taxable year. (3) Definition and special rules (A) Total compensation For purposes of paragraph (2), the term total compensation means the sum of the net earnings from self-employment and the amount of wages paid to such individual during the taxable year. (B) Wages For purposes of this subsection, the term wages — (i) includes such remuneration paid to an employee for services included under an agreement entered into pursuant to the provisions of section 3121(l) (relating to coverage of citizens of the United States who are employees of foreign affiliates of American employers) as would be wages under section 3121(a) if such services constituted employment under section 3121(b), and (ii) includes compensation which is subject to the tax imposed by section 3201 or 3211 (or would be so subject but for paragraph (2) of section 3231(e)). (C) Nonresident aliens A nonresident alien individual shall not be treated as an individual for purposes of paragraph