In a significant move, the Social Security Fairness Act aims to rectify long-standing inequities in the Social Security system. By eliminating key provisions that reduced benefits, the Act ensures fair treatment for millions of Americans.

In April, the Social Security Administration begins increasing monthly benefit payments to more than 3.2 million people affected by the repeal of the Windfall Elimination Provision and Government Pension Offset. "The impact could be huge," said George Pikounis, financial advisor at Burns Estate Planning in Tallahassee, Florida, in an email.

While many have already received their payments, millions more are still waiting as the SSA continues processing remaining retroactive payments.

The Social Security Fairness Act gets rid of two long-standing laws: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).

The Social Security Administration (SSA) has paid more than $7.5 billion in retroactive benefits to over 1.1 million Americans, marking the first large-scale implementation of the Social Security Fairness Act, the agency announced Tuesday.

If your combined income is under $25,000 (single) or $32,000 (joint filing), there is no tax on your Social Security benefits.

The Social Security Fairness Act is now law, impacting benefits for retirees, disabled workers, and spouses. Understanding your rights and the necessary steps to take can ensure you receive the benefits you deserve.