Social Security undergoes changes annually, with the potential for a 2.6% cost-of-living adjustment in 2026. High earners may see an increase in payroll taxes, affecting about 6% of the population. The maximum monthly Social Security payout for high earners is expected to climb. A law passed in 2025 will provide a $6,000 bonus deduction for seniors, reducing the number required to pay federal tax on Social Security benefits. Thresholds for early filer withholding and disability withholding are likely to rise, allowing individuals to earn more without losing benefits. Coverage requirements to qualify for Social Security may become tougher in 2026. West Virginia will eliminate state-level tax on Social Security income, affecting those with adjusted gross incomes below $50,000.

Read more at Nasdaq: 8 Transformative Social Security Changes You Can Expect in 2026