The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely boasting it gets rid of federal income taxes on most retirees’ Added benefits.
It does so by offering an Increased deduction for taxpayers aged 65 and more mature, making sure that retirees can preserve a lot more of whatever they earned.
Social Protection continues to be dedicated to supplying well timed, accurate data to the general public and may go on working closely with federal companions to make sure beneficiaries understand how this laws may well have an affect on them.
For that reason, the extra $6000 deduction and no taxes on SS means Totally nothing to us. We're handling the higher fees but have gained practically nothing With all the passage with the BBB.
July twelve, 2025 three:20PM So in essence, mainly because I’m forty three and get SSDI this bill adjustments practically nothing for me even though I worked LONG Challenging several hours to earn the small bit of money which i do get… mainly because involving my spouse and I, we do make underneath $150k a yr, but still adequate that part of mine is taken into account “taxable “
July 11, 2025 2:45PM I've discovered a distinction in just how information and facts is presented by SSA. I see no certain facts on how this influences me for the long run. I'm seventy three now and would love to see our Advantages not taxed. Having said that, it’s a “I’ll imagine it when I see it” posting.
The brand new legislation features a provision that removes federal cash flow taxes on Social Stability Added benefits for many beneficiaries, furnishing relief to men and women and couples.
The Monthly bill makes sure that just more info about 90% of Social Stability beneficiaries will no longer shell out federal earnings taxes on their own Positive aspects, delivering significant and quick reduction to seniors who have put in a life span contributing to our country’s economic climate.
By significantly lowering the tax load on Added benefits, this legislation reaffirms President Trump’s assure to guard Social Security and aids make sure seniors can far better benefit from the retirement they’ve attained.”
July thirteen, 2025 six:13PM In case you and/or your wife or husband worked hard for decades and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Far too terrible that lots of citizens sport the system and choose over they must be entitled to obtain.
July 12, 2025 eight:50PM You are 1 that may gain. Speak with your tax individual- but as I know it, you could post a whole new withholding variety to obtain much less taken out OR you'll be able to claim the $6k at tax time. I’m not an expert but that’s how I read through it.
There isn't any transform from the taxability of social safety benefits. The Invoice only check here presents A brief bonus deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I receive a compact pension coupled with my social protection every month. I have a little investment decision account. If I pull revenue out, it causes my earnings to go the earnings Restrict and my SSI is taxed. Will this still be the case?
July 10, 2025 6:24PM How is everyone supposed to trust this Administration’s postings when they're fundamentally biased and downright misleading? Like Other people posting on below, This read more can be practically nothing but gaslighting and fanfare. The info espoused are spurious to say the minimum.
The info? The freshly signed law is projected to more to weaken the Social Security plan and its profits. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice that was signed into legislation, as well as its damage to retirees.
People today declaring social security Rewards who are less than sixty five or above People earning thresholds will see no tax advantage.