Millions of retirees could stop paying federal taxes on Social Security benefits under new legislation and a temporary $6,000 senior tax deduction.

A civil engineer earning $176,100 in 2025 per year looks the same as Elon Musk in the eyes of the Social Security system.

The One Big Beautiful Bill Act created a $6,000 extra standard deduction for those 65 and older but did not eliminate Social Security benefit taxation. Single filers with provisional income above ...

Yes, the federal government will take a cut of Social Security, which can include monthly retirement, survivor and disability benefits, if total income exceeds certain amounts. But recipients also ...

WASHINGTON, DC - MARCH 28: Senate Majority Leader Harry Reid (D-NV) (C) speaks during a rally in support of Social Security with Sen. Tom Harkin (D-IA) (L) and Sen. Bernie Sanders (I-VT) in the ...

Thirteen states don't tax retirement income at all. Another 41 states don't tax Social Security benefits. However, retirees must still pay federal taxes on their retirement income. Some parts of the ...

Close to 74 million Americans receive Social Security benefits. Nearly two-thirds (63%) say their checks account for at least half of their personal income, according to the Pew Research Center, and ...