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2. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

3. Here are the biggest retirement changes coming in 2023 - AOL

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   Huge Social Security increase. Social Security beneficiaries will see a pay raise next year thanks to an 8.7% increase in the Social Security cost-of-living adjustment (COLA) for 2023.. The ...

4. Tax bill on 2023 Social Security benefits could catch ... - AOL

   www.aol.com/finance/tax-bill-2023-social...

   A survey by the Senior Citizens League asked 4,375 older taxpayers if they had to pay federal income tax on a portion of their Social Security benefits for the first time that year when the COLA ...

5. Do retirees need to file a tax return this year? Savvy Senior ...

   www.aol.com/retirees-file-tax-return-savvy...

   To get a detailed breakdown on federal filing requirements, along with information on taxable and nontaxable income, call the IRS at 800-829-3676 and ask them to mail you a free copy of the ...

6. How Inflation Could Lead to Surprise Tax Bills for Retirees - AOL

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   There’s been rumblings about retirees on Social Security possibly paying higher taxes in 2023 and 2024 due to inflation. But what exactly does that mean? First: You don’t have to worry about ...

7. Social Security recipients will get a 2.5% cost-of-living ...

   www.aol.com/social-security-cost-living-benefits...

   Recipients received a 3.2% increase in their benefits in 2024, after a historically large 8.7% benefit increase in 2023, brought on by record 40-year-high inflation. The smaller increase for 2025 ...

8. 2023-2024 tax brackets and federal income tax rates - AOL

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   There are seven tax brackets for most ordinary income for the 2023 tax year: 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent. ... How do federal tax brackets ...

9. Do You Have To Pay Taxes on Your Retirement Income? It ... - AOL

   www.aol.com/finance/pay-taxes-retirement-income...

   Your after-tax contributions allow you to receive funds tax-free in retirement as long as you have owned the account for at least five years. You can expect to pay taxes, though, on any tax ...