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Revision as of 03:42, 13 September 2026
Despite the new tax rate reductions from the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal tax bracket for many retirees can be a whopping 46.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who check out good fortune (misfortune?) pertaining to being subject to both the 25% taxes bracket and the 85% inclusion rate for Social Security benefits. To enough time headache among the season, continue but be careful and a whole of faith.
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