Social Security Taxes to Change Under New Bill
Cătălin Roșioru
Taxes on Social Security could change in a major way under a new bill that reverses a tax bill for some public sector workers when they reach retirement. The No Tax on Restored Benefits Act has bipartisan support and would offer a gross income tax exclusion for retroactive Social Security benefits paid to those on pensions. This mostly applies to public sector retirees, although around 70 million Americans rely on Social Security benefits each month. Previously, many of these retirees on
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