The policy could lead to hardship for some elderly Americans, Social Security advocates say. Here's what to know.

The Social Security Administration stated more than 72.5 million Americans will benefit from the 2.5% COLA increase in 2025.

Tax season usually brings a refund check for most workers, but if you're retired, you could wind up owing the IRS.

Importantly, retirees that owe tax on Social Security income must make quarterly estimated payments to the Internal Revenue ...

To calculate your Social Security income, the SSA uses your highest earnings over 35 years, or your average indexed monthly earnings (AIME). If you don’t have 35 years of work history, the SSA will ...

Right now, seniors pay taxes on Social Security benefits once their combined income exceeds $25,000 in the case of individuals, or $32,000 in the case of joint filers. Combined income is calculated ...

Social Security is subject to federal income tax when combined income is ... a portion of their benefits be withheld by submitting a Form W-4V to their local Social Security office by mail or ...

Combined income equals adjusted gross income ... portion of their benefits be withheld by submitting a Form W-4V to their local Social Security office by mail or fax. Retirees in certain states ...

Retired workers may have to pay federal income tax on Social Security ... their benefits be withheld by submitting a Form W-4V to their local Social Security office by mail or fax.