The 2027 Social Security COLA Could Trigger a New Tax for Some Seniors Next Year
Being proactive about this could make it a lot easier to manage.
Overview
Social Security benefits are poised for a boost of around 3.8% next year, according to recent 2027 cost-of-living adjustment (COLA) projections from The Senior Citizens League. That isn't likely to be game-changing for most seniors. It'll only add about $79 to the average monthly benefit as of June 2026, but at least it's something.
For most people, this modest boost will provide at least some help with the rising costs they've faced throughout 2026. But for a few, it could actually trigger a higher tax bill that takes back their COLA and then some.
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Details
Source
Originally published at www.fool.com.
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