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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Feb 18, 2021.
Fairness in Social Security Act of 2021
This bill excludes from modified adjusted gross income, for income tax purposes, any lump-sum social security benefit payment (i.e., a payment of more than one month of social security benefits) that is attributable to months ending before the beginning of the taxable year. It also waives any statute of limitation for credits or refunds resulting from this bill.
