I understand that a tax credit will be given for Social Security, but if you are working, will Social Security continue to be taxed and/or are there no taxes for Social Security under the new bill. Currently, you pay taxes on Social Security if your are working and depending on what you make, it is taxable at either 50% or 85%. It appears from what I read, that seniors are just receiving a tax credit based on income under a specific amount.
Thank you, MGHC.
