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Stimulus Payments and Your Social Security Taxability
As the tax season unfolds around us, many seniors have a question about what the impact of those stimulus checks will be on their net Social Security benefits. Rest easy…these payments do not affect what Social Security calls your “provisional income,” the defining item in determining tax liability of benefits. Check out this article by Kiplinger Tax Editor Rocky Mengle appearing on www.kiplinger.com for more information, including a recap of how the IRS calculates how much of your benefit ends up taxable. You can access it here…
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