Dear Savvy Senior,

Do I have to pay taxes on my Social Security retirement benefits? I heard that President Trump’s big, beautiful bill eliminated that. What can you tell me?

About to Retire

Dear About,

No, the new law, better known as the ‘One Big Beautiful Bill Act’ did not eliminate Social Security taxes. It did, however, provide a temporary “senior bonus” deduction (starting in 2025 through 2028) of up to $6,000 that will apply to taxpayers, age 65 and older, who earn up to $75,000 for singles or $150,000 for joint filers. If you earn over that amount, the deduction starts phasing out.

Also note that the senior bonus is a deduction, not a refundable credit, so it will not help lower-earning seniors who owe no income taxes.

Who Owes SSA Taxes?

Whether or not you’ll be required to

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