Message Font: Serif | Sans-Serif
No. of Recommendations: 0
The pending law does not affect taxation of Social Security benefits.

What Congress has passed and what we are waiting for the President to sign is that individuals aged 65 through 69 will not lose any of their Social Security benefits if they earn to much (above $17,000 in 2000) from a job. That exemption from losing benefits had previously applied only to people age 70 and older.

Part of an individual's Social Security benefit is still subject to tax no matter what age (even age 70 and above) if provisional income (AGI + muni income + 50% of the Social Security benefit) exceeds $25,000 if unmarried and $32,000 if married filing jointly.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.