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Paying Federal Income Tax on Social Security Benefits: A Problem Likely to Grow
It catches many folks by surprise. And many consider it an unfair double-taxation problem. What we’re talking about, of course, is the fact that more than half of retiree households fall into the bracket where a portion of their benefits is subject to federal income tax. Worse, as The Motley Fool’s Katie Brockman points out in a post on their website, inflation will draw more households into this bracket as time passes, since the guidelines have not been adjusted since 1984. Read her analysis here…