Latest News
What to Expect for Social Security Changes in 2026
As is usually the case, 2026 will bring several program changes to Social Security. For example, there will likely be a cost-of-living increase in 2026. It is currently estimated at 2.5%. The full retirement age will be officially age 67 for anyone born in 1960 or later. You will pay more Social Security taxes on your benefit, up from the current $176,100 of taxable earnings.
Also, as a result of the One Big Beautiful Bill Act signed into law July 4, there will also be an increased tax deduction of $6,000 on your 2025 tax return for people 65 years old and older. Married couples will get $6,000 each, or $12,000 if both are 65 or older. This will help lower your tax liability regardless of whether or not you are receiving your Social Security benefits. It will begin to phase out for single filers with Modified Adjusted Gross Income (MAGI) of $75,000 and married filers with MAGI of $150,000. To read the full article by The Motley Fool’s Keith Speights on MSN.com click here …
The link provided above connects readers to the full content of the posted article. The URL (Internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.
Does not help anyone who does not work and get only 1000 to 1500 a month.