What to know for 2025 tax season

Skynesher | E+ | Getty Images New laws enacted in 2025 may have a big impact on how much Social Security beneficiaries pay in taxes this season. On Jan. 5, 2025, President Joe Biden signed the Social Security Fairness Act, a law that ended provisions that reduced or eliminated Social Security benefits for more than…

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Senators want longer lump-sum payment timeline

Cavan Images | Cavan | Getty Images At the start of 2025, during President Joe Biden’s final weeks in office, lawmakers pushed forward with last-minute major legislation that provides Social Security benefit increases to certain public pensioners. The Social Security Fairness Act was passed with an overwhelming bipartisan majority in both the House and Senate,…

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How much retirees may save in 2026

Catherine Delahaye | Digitalvision | Getty Images The first 10 drugs subject to new Medicare price negotiations will go into effect on Jan. 1, prompting substantial out-of-pocket savings for certain older Americans who rely on those medications. Enrollees in Medicare Part D prescription drug plans may see their out-of-pocket costs for the negotiated drugs fall…

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