Tag: Tax threshold adjustments

Surprise Tax Bills for Social Security Recipients Hit 66 Million Americans

Jan 26, 2024

—

by

Jay Tarife

in Finance

Due to recent changes, some 66 million Social Security users will pay more to the IRS this tax season. The Cost of Living Adjustment raised Social Security payouts by 8.7% last year. While this may sound like wonderful news, retirees must pay the IRS a percentage of that amount. Retirees and Remote Workers Brace for…