5 Tax Tips for Older Adults

5 Tax Tips for Older Adults
Twenty dollar bills are counted in North Andover, Mass., on June 15, 2018. Elise Amendola/AP Photo
The Associated Press
Updated:
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More than half of older taxpayers (57 percent) are worried they’ll have to pay more taxes this year because of the 5.9 percent Social Security cost-of-living adjustment in 2022, according to a January survey by The Senior Citizens League, a nonpartisan seniors group.

Taxes for the over-65 set can feel more complicated for a variety of reasons: There are often multiple streams of income, some retirees still work part time, and people may be managing required minimum distributions from retirement accounts.