No Tax on Social Security Benefits
Official: No Tax on Restored Benefits Act
The No Tax on Restored Benefits Act stops the government from taxing specific Social Security benefits that people will receive in 2025. This helps ensure that individuals can keep more of their money during that time.
1. This bill removes taxes on certain Social Security benefits. 2. It specifically applies to benefits from the Social Security Fairness Act of 2023. 3. The tax exclusion is for payments received between January 1, 2025, and December 31, 2025. 4. It aims to help individuals receiving these specific Social Security payments. 5. The bill changes the tax code to support these beneficiaries.
Individuals receiving Social Security benefits related to the Social Security Fairness Act of 2023.