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Yes, the tax brackets apply to everyone. However, depending upon the type of retirement account, they may not have to pay taxes on some of the money, as they have already paid taxes on it.

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βˆ™ 15y ago
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βˆ™ 6mo ago

Retirees are subject to the same tax brackets as everyone else based on their income level. However, the types of income retirees receive, such as Social Security benefits or retirement account withdrawals, may be taxed differently than regular wages or salaries. It's important for retirees to understand how their specific sources of income are taxed in order to effectively plan for their tax obligations.

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Q: Do retirees fall into the same tax brackets as everyone else?
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