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Social Security, Tax

MarketWatch on MSN · 6h

No tax on Social Security? Not quite. What the tax megabill really means for seniors.

Before the passage of the tax bill, 64% of seniors didn’t pay taxes on their Social Security benefits, according to a June report from President Donald Trump’s Council of Economic Advisers. Under the new legislation, 88% won’t pay taxes on those benefits, the report estimated.

Does the "big, beautiful bill" eliminate taxes on Social Security?

What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.

No Taxes On Social Security Is A Promise Only Partially Kept

The President promised no taxes on Social Security. The OBBBA keeps that promise for some taxpayers. It is not, however, a blanket (or permanent) exemption.

6don MSN

Trump Said ‘No Tax on Social Security.’ The Tax Bill Comes Closer to It.

The bill that passed the Senate includes a $6,000 senior tax deduction, compared with the House’s $4,000 deduction.

13hon MSNOpinion

Social Security Administration takes a step too far with deceptive email on megabill

When Americans can no longer trust the information it receives from the Social Security Administration, there's a problem.

3don MSN

How Might Social Security Privatization Impact the Stock Market?

A sudden influx of cash pouring into the stock market is likely to drive up prices. The market may feel a little topsy-turvy ...

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