The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it eradicates federal income taxes on most retirees’ Positive aspects.
It does so by delivering an Improved deduction for taxpayers aged sixty five and older, ensuring that retirees can preserve additional of the things they acquired.
Social Safety stays dedicated to providing timely, correct facts to the general public and can continue Functioning intently with federal associates to be certain beneficiaries know how this laws may possibly affect them.
Consequently, the additional $6000 deduction and no taxes on SS means Definitely absolutely nothing to us. We have been managing the upper fees but have received absolutely nothing with the passage on the BBB.
July twelve, 2025 three:20PM So fundamentally, simply because I’m 43 and obtain SSDI this bill improvements absolutely nothing for me Regardless that I worked Prolonged Tough several hours to earn the small little bit of cash which i do get… mainly because concerning my spouse And that i, we do make less than $150k a yr, but still sufficient that Portion of mine is taken into account “taxable “
July 11, 2025 2:45PM I've discovered a variance in the way in which details is introduced by SSA. I see no particular information on how this affects me for the long run. I am seventy three now and would love to see our Positive aspects not taxed. Nonetheless, it’s a “I’ll believe it After i see it” article.
The new law includes a provision that eradicates federal revenue taxes on Social Protection Rewards for the majority of beneficiaries, offering reduction to people and couples.
The Monthly bill makes certain that virtually ninety% of Social Safety beneficiaries will no more spend federal profits taxes on their Positive aspects, delivering significant and fast reduction to seniors which have expended a life span contributing to our country’s economic system.
By appreciably lessening the tax stress on Advantages, this legislation reaffirms President Trump’s assure to safeguard Social Protection and allows make sure seniors can superior enjoy the retirement they’ve attained.”
July 13, 2025 six:13PM When you and/or website your husband or wife worked difficult for many years and The federal government took deductions for SS then Of course, a citizen warrants the payments they promised you in retirement. Far too negative that countless citizens video game the technique and get a lot more than they need to be entitled to obtain.
July twelve, 2025 8:50PM You will be a person that should gain. Discuss with your tax person- but as I know it, you may post a different withholding type to own less taken out OR you may assert the $6k at tax time. I’m not a professional but that’s get more info how I study it.
There isn't a change inside the taxability of social security Advantages. The Invoice only provides A brief reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if One or $150k if married.
July fifteen, 2025 8:04AM I receive a smaller pension coupled with my social stability monthly. I've a small investment decision account. If I pull funds out, it triggers my income to go the revenue limit and my SSI is taxed. Will this however be the situation?
July 10, 2025 six:24PM How is anyone purported to believe in this Administration’s postings when they're essentially biased and downright misleading? Like others submitting on below, This really is nothing at all but gaslighting and fanfare. The points espoused are social locker plugin for wordpress spurious to mention the minimum.
The details? The newly signed legislation is projected to further to weaken the Social Safety method and its earnings. The SSA’s assertion is really a blatant lie and falsely misrepresents the Monthly bill that was signed into law, in addition to its hurt to retirees.
Men and women claiming social stability benefits who're underneath sixty five or above All those earning thresholds will see no tax advantage.