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Consequently, while all Puerto Rico residents pay federal taxes, many residents are not required to pay federal income taxes. Aside from income tax, U.S. federal taxes include customs taxes, [1] federal commodity taxes, and federal payroll taxes (Social Security, Medicare, and Unemployment taxes).
For example, in Colorado, residents ages 65 and older have been able to fully deduct federally taxed Social Security benefits on their state income tax returns since tax year 2022. For 2025, that ...
Under this scenario, workers would pay Social Security taxes up to the current wage base — $147,000 in 2022 — and then be exempt from additional taxes on earned income between $147,000 and ...
The U.S. Senate recently voted to proceed with the Social Security Fairness Act, a bipartisan bill that could expand Social Security benefits for nearly 3 million Americans.
The federal Social Security Check Tax Cut Act would similarly phase out federal taxes on Social Security benefits, beginning with a 10% cut in year one and increasing to 20% in year two.
The Supplemental Security Income (SSI) program is a benefit for older or disabled citizens who are unable to care for themselves. As established by act of Congress, the benefits are available to all citizens of the 50 states, the District of Columbia, and the Northern Mariana Islands, but do not cover residents of the other United States territories, including Puerto Rico.
With President Joe Biden signing a bill over the weekend to improve Social Security benefits for millions of public sector workers, many Americans may be wondering if they qualify for what the ...
The territories of Guam, Puerto Rico, and the U.S. Virgin Islands are eligible for federal grants to support the "aged, blind, and disabled" but residents are not eligible for SSI. In April 2022, the Supreme Court ruled (in United States v.