No Tax on Restored Benefits Act

No tax on restored Social Security

If enacted, this bill would let you exclude from federal taxable Social Security income the part of your monthly Title II benefit that is attributable to the Social Security Fairness Act of 2023. The exclusion would apply only to amounts paid for months beginning after December 31, 2024 and before January 1, 2026. That excluded portion would not be counted as a "social security benefit" for federal gross income tax purposes during that period. If your monthly payment includes restored amounts from the 2023 Fairness Act, you would likely owe less federal income tax for those months.