Related: How the IRS taxes Social Security income in retirement. The new tax break is welcome news for the over 66 million Americans who collect Social Security income, including

A Republican-backed House bill includes a range new tax breaks, including a $4,000 deduction for seniors. Here's what to know.

Many taxpayers could see even more money in their pockets in coming years under a sweeping tax and spending cuts package that House Republicans hope to finalize before Memorial Day.

Trump reversed former President Joe Biden's overpayment and recovery rules by implementing a 50% clawback rate on a person's monthly benefit until the overpayment is recovered in full. The president nominated Frank Bisignano to become the new SSA commissioner.

TPC found that, on average, all income groups would benefit from the tax proposals. But more than two-thirds of the tax cuts would go to those making $217,000 or more.

House Republicans on Monday outlined their plans for a far-reaching tax bill that would deliver on several of President Trump’s campaign pledges — for now.

While on the presidential campaign trail last year, Donald Trump promised workers in Las Vegas that he would eliminate taxes on tips. It was a popular proposal – so popular, in fact, that his competitor Kamala Harris embraced the idea as well.

Millions of recipients could soon be entitled to the tax break, should the provision make its way into the final bill.