Since the average monthly Social Security benefit in 2025 is $1,976, increasing benefits by $2,400 a year would be a big deal. It could help seniors withdraw less from their retirement savings ...

The impact on taxpayers is significant. The maximum amount a worker can pay in Social Security taxes in 2025 is $10,918.20, calculated on the new wage cap of $176,100 at the standard 6.2% rate.

The same unsolicited political message added, “The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to ...

Instead, it adds a new tax deduction for people 65 and older — and that means more of them will pay no taxes, or fewer taxes, on their Social Security benefits.

Medicare and Social Security go-broke dates pushed up due to rising health care costs, new SSA law The go-broke date is the date at which the programs would no longer have funds to pay full benefits.

A Social Security office in Milwaukee. The agency praised the Trump administration’s sprawling budget and tax bill in an email that went out on Thursday. Sara Stathas for The New York Times ...

The challenge If you've ever looked at a paycheck and wondered what FICA stands for, it's the Federal Insurance Contributions Act. Of your gross wages, 6.2% goes into FICA to pay for Social ...

Instead, it adds a new tax deduction for people 65 and older — and that means more of them will pay no taxes, or fewer taxes, on their Social Security benefits.