Retirement account withdrawals and earnings from a job may not be the only taxable income you have, either. The federal government taxes seniors' Social Security benefits if their income exceeds certain thresholds. If you live in one of the following nine states, you could owe some state Social Security benefit taxes as well.

Ways to avoid paying taxes on Social Security benefits. Before we dive into some ways to potentially reduce your tax burden, it’s good to remember that the portion of your benef

Eliminating taxes on Social Security benefits would provide current beneficiaries with thousands more dollars but could cause younger generations to lose thousands in benefits.

What you want to do is get ahead of the problem. First, pay as much as you can upfront, even if it's not the full amount. This will reduce your outstanding balance, which will be subject to a 0.5% monthly failure-to-pay penalty, up to a maximum of 25% of the unpaid amount.

If you have received Social Security benefits since before May 1997, or receive both Social Security and Supplemental Secur

The first round of March’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, will go out to the final group of retirees in eight days. Here is all you need to know about this month’s Social Security payments.

As March 2025 approaches, millions of Americans are preparing to receive their Social Security benefits. This essential financial support is distributed by the Social Security Administration to retirees,