After a person retires, do they still have to pay taxes or no?

Question

How do retired people make their income, for food and other needs?

Answer 1

If your taxable income is over the filing requirement, yes, you most certainly have to pay taxes.

There is a slight increase in the standard deduction for being 65 or over but there are no exemptions strictly related to age or work status.

Answer 2

Retired people get social security payments if they have paid into the social security system.

Retired people also get pension payments if they worked in a job that provided pension benefits.

Retired people also live off their savings - bank accounts, retirement accounts such as 401K or IRA, annuity payments etc...

You add up all that income and if you have taxable income, then you pay taxes.  If your income is under the taxable income level, then they don't pay federal taxes.

Each state has it's own rules, so they may, or may not, have to pay state taxes.

Answer 3

Yes if they have enough income to be required to file.

Most retired people get their income from social security, pensions and/or savings.