How much you pay to the IRS is an important question on a lot of people’s minds when they retire.
Many might expect their retirement income to be taxed in the same way as their employment pay. Others might have heard that there’s a specific age where you stop paying federal taxes on certain types of income, like Social Security benefits.
If you take this quick quiz, you could be surprised about how your retirement income is actually taxed on a federal level.
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Also, check out Kiplinger’s articles on retirement taxes at the end to further deepen your understanding of this important tax topic.
Read More on Retirement Taxes
- Here’s How the IRS Taxes Retirement Income
- How to Calculate Taxes on Social Security Benefits
- Retirement Taxes: How All 50 States Tax Retirees
- SECURE 2.0 Act Summary: New Retirement Savings Changes to Know
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