Lawmakers Move to Protect Social Security Retirees From Huge Tax Bill

Lawmakers Move to Protect Social Security Retirees From Huge Tax Bill

Key PointsSome retirees could owe the IRS a lot of money when they pay their taxes in 2026 due to changes to Social Security rules.The No Tax on Restored Benefits Act is a bipartisan bill that creates a gross income tax exclusion.Affected retirees need to monitor the progress of the legislation.The $23,760 Social Security bonus most retirees completely overlook › Taxes on Social Security have become a hot-button issue. President Trump pledged to…

Social Security Fairness Act: Unfair taxes and the bill that aims to fix it

The Social Security Fairness Act, which eliminated WEP and GPO, led to unexpected tax bills for retirees. A new bill is aiming to fix this.

Bill would shield restored Social Security benefits from tax

A new bipartisan bill would exempt retroactive Social Security payments from federal taxes, easing a surprise financial burden for millions of retirees.