A bipartisan “fix” to Social Security benefits for public-sector retirees could lead to a big tax hit for those Americans. Lawmakers are racing the clock before taxes come due on April 15.
The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older.
Social Security recipients saw higher 2026 taxes after benefit boosts from the Social Security Fairness Act. Most increases ...
You'll have one fewer expense to worry about in retirement.
Many seniors saw their monthly benefits rise last year, and that will affect their tax refunds this year.