Social Security benefit payments are funded outside the annual appropriations process and are not dependent on yearly appropriations legislation.
October 10, 2025
high
policy
Description of the federal funding structure for Social Security benefits.
For the 2025 tax year, a new federal tax deduction of $6,000 is available for taxpayers aged 65 and older, couples where both spouses qualify can claim up to $12,000 total, and the deduction phases out for taxpayers with modified adjusted gross income above $75,000 for single filers and $150,000 for joint filers.
January 01, 2025
high
temporal
Age-based federal tax deduction affecting taxation of Social Security income for older taxpayers.
Beginning with the 2025 tax year, federal income tax does not apply to cash and electronic tips received by employees, with a maximum annual exclusion of $25,000, although tip income must still be reported for Social Security and Medicare purposes.
January 01, 2025
high
temporal
Federal tax treatment change for employee tips.