Social Security recipients can get an unexpected tax bill this Year

Social Security recipients can get an unexpected tax bill this Year

For older Americans still feeling the pinch of inflation, the record-high Social Security payment boost in 2023 may have an unwanted side effect: increased taxes. While Social Security beneficiaries get inflation-indexed cost-of-living adjustments (COLAs), the amount of payments free from taxes has not changed in many years. Since 1984, pensioners have been required to pay … Read more