Does your state tax Social Security benefits? - USA Today
The Internal Revenue Service announced Jan. 29, 2024, as the official start date of the 2024 tax season when the agency will begin accepting and processing 2023 tax returns. Some retirees will not need to file if their total income is below a certain dollar threshold; however, according to The Social Security Administration, “roughly 40 percent of recipients pay federal income tax on their benefits, typically because they also have substantial income from other sources including wages, interest, or dividends from investments.” On top of the federal income tax, some states still tax Social Security. Medora Lee outlines the 12 states that still tax Social Security. Read Ms. Lee’s article here…
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