Social Security payments used to be tax free, until 1984 when up to 50% of Social Security payments were taxable. The maximum was increased to 85% in the 1991.
Despite campaign promises of ending taxes on Social Security, the recent legislation did not directly end taxes on Social Security payments.
Now Congress is introducing a bill, You Earned It, You Keep It, to eliminate taxes on Social Security payments. Similar bills have failed in the past.
For more details see Taxes on Social Security Could Be Eliminated Under New Bill - Newsweek
I hope this bill passes.
This is not financial, tax nor Social Security advice. Please consult a professional advisor.
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