Social Security, Tax Law
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The Social Security Administration says most won’t pay federal income taxes on their benefits. But Congress didn’t directly exempt those payments from taxes.
Per the same White House statement, 64% of seniors aged 65 and older who are collecting Social Security are already exempt from having their benefits taxed, due to various exemptions and deductions.
The White House issued a statement on July 1 saying that "Under the One Big Beautiful Bill, the vast majority of senior citizens -- 88% of all seniors who receive Social Security -- will pay NO ...