More Than 36 Million Americans Risk Double Taxation on Social Security Benefits
Social Security benefits are an important source of retirement income, but you may not get to keep all the money you receive from this entitlement program. In fact, there's a chance you could be taxed not once but twice on your retirement benefits.
This can happen if your benefits are taxed on the federal and the state level. If you have to pay both the IRS and your local government, you're being taxed twice on the same dollar. This double tax is the reality for as many as 36.5 million Americans.
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Source Fool.com
