Why seniors may face $10.5 billion more in Social Security taxes in 2022

Although it may come as a surprise for many seniors, Social Security benefits are sometimes taxed on the federal level. In fact, seniors lose billions of dollars each year due to the taxes they owe on their retirement benefits. And the amount they’ll have to pay will be much higher in 2022.

"Why seniors may face $10.5 billion more in Social Security taxes in 2022"