I’d like to know how they get the 90% figure. It is just a $6000 extra deduction per person over age 65.It phases out after $150,000 AGI (filing jointly). No deduction at all after $175,000 (filing jointly) is what I read. Looks like a case of lying through statistics.
Yeah, the promise was no taxes on social security, clean and simple. So they did this crap, only in effect for 3 years, and are now claiming it’sa promise fulfilled.
That all we get from congress now because they claim it’s done. Same with overtime and tips. Caps, and they have to wait until filling time and claim done kind of expedition on taxes when filing.
Congress could screw up a rock fight.
Bait and Switch as far as I can tell.
A very complex way to provide relief for many but not all.
Standard deduct is 15K individual and 30K married. SS is 50% taxed up to 44K filing joint. So if you have (joint) 30K income and 16K SS, 30K is exempt and only 8 K of SS is taxable, but the deduction will make your taxes 0. I think
I'm guessing it's a guess.
That’s what they said. Did they change it back to ‘no tax’ ?