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Will a giant raise result in taxes on your benefits?

Social Security beneficiaries will be receiving the largest cost-of-living adjustment (COLA) in 40 years.  The 5.9 percent increase will take effect in January 2022, giving some seniors a necessary boost to their income to keep up with inflation. However, there is one downside, which is unwanted tax surprise. Maurie Backman explains how some seniors could see their benefits taxed for the first time. Read Ms. Backman’s article here…

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