More Than 36 Million Americans Risk Double Taxation on Social Security Benefits

Christy Bieber, The Motley Fool
·3-min read
More Than 36 Million Americans Risk Double Taxation on Social Security Benefits
More Than 36 Million Americans Risk Double Taxation on Social Security Benefits

In fact, there's a chance you could be taxed not once but twice on your retirement benefits. Single tax filers are taxed on up to 50% of benefits if their provisional income is between $25,000 and $34,000, and will be taxed on up to 85% of benefits once their provisional income exceeds $34,000.