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By 2022, Only These 12 States Will Tax Social Security Benefits


Americans rely on their Social Security benefits  to cover a big portion of their expenses in retirement. Yet even though people have payroll taxes withheld from their paychecks throughout their careers to pay for Social Security, some retirees then have to turn around and pay federal income taxes on their benefits.

Adding insult to injury, a handful of state government tack on their own state income taxes on Social Security. Currently, 13 states take their share from monthly checks, but fortunately for taxpayers in one of those states, Social Security taxation is about to become a thing of the past.

Image source: Getty Images.

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Source Fool.com


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