In most cases, a tax on Social Security is obvious and easy to plan ahead for.

This is usually true for both federal taxes and taxes at the state level. But some seniors could be about to get hit with a tax bill they didn’t expect.

Why is this? It has to do with the Social Security Cost-of-Living Adjustments (COLAs) over the past few years. While the record increases were welcomed by seniors around the country, they’ve pushed some retirees into new income brackets.

This may result in higher tax obligations. Should the brackets be adjusted, since they haven’t in decades? Better yet, should retirees be exempt from taxes on their benefits altogether? Share your thoughts!

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