🇺🇸 Donald Trump
Trump Reaffirms No Tax on Social Security: What Retirees Must Do Next
What happened
The White House framed the policy as "no tax on Social Security," but the change actually comes through an expanded senior deduction. Seniors over 65 can claim an additional $6,000 deduction per taxpayer from 2025 through 2028. According to an analysis, 88% of all seniors will pay no tax on their Social Security benefits.
Why it matters
The change in tax policy may affect the taxable income of retirees, and they should focus on how these changes may impact their income rather than assuming their benefits are tax-free. Taxes on Social Security are based on various factors, including benefits, other income, filing status, and provisional income.
Key facts
- Seniors over 65 can claim an additional $6,000 deduction per taxpayer from 2025 through 2028.
- 88% of all seniors will pay no tax on their Social Security benefits.
- Benefits become taxable once provisional income exceeds $25,000 for single filers and $32,000 for married couples filing jointly.
- Up to 85% of benefits may be taxable.
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Publisher evidence used
Reporting attributed to aol.com. WorldLeadersNews links readers to the publisher and does not present a headline-only item as a full article analysis.
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