Trump Tax Law Cuts 2026 Taxes For Seniors With New Social Security Relief

000 and contributing $2,600 to a 401(k) would have paid $5,223.60 in taxes before the new law.

Under the One Big Beautiful Bill Act, their tax bill drops to $4,773.60.

The couple saves $450, amounting to roughly a one percent increase in take-home pay.

Ways and Means Committee Chairman Jason Smith said the changes will eliminate Social Security taxation continue reading …