Millions of seniors rely heavily on Social Security to make ends meet. If you’re planning to do the same, you should know the ins and outs of how the program works. If you don’t, you may get caught off guard by some of Social Security’s rules and nuances, like these.
You’d think Social Security would be something you’re entitled to without having to worry about taxes. But unfortunately, those benefits are yet another senior income source the IRS could get its hands on. Whether that actually happens, however, depends on your provisional income.