The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it removes federal cash flow taxes on most retirees’ Rewards.
It does so by providing an Increased deduction for taxpayers aged 65 and more mature, making sure that retirees can continue to keep much more of what they attained.
Social Protection continues to be committed to delivering well timed, exact facts to the general public and can continue on Functioning carefully with federal companions to ensure beneficiaries understand how this laws may affect them.
Thus, the additional $6000 deduction and no taxes on SS usually means Unquestionably absolutely nothing to us. We're coping with the upper prices but have been given practically nothing Using the passage of your BBB.
July twelve, 2025 three:20PM So fundamentally, because I’m forty three and obtain SSDI this Invoice changes practically nothing for me Regardless that I labored Lengthy Tough hours to receive the minimal little bit of cash that I do get… since among my spouse and I, we do make beneath $150k a year, but nevertheless sufficient that Element of mine is considered “taxable “
July 11, 2025 two:45PM I've recognized a variance in the way facts is introduced by SSA. I see no precise information on how this has an effect on me for the long term. I am seventy three now and would love to see our benefits not taxed. Nonetheless, it’s a “I’ll imagine it Once i see it” write-up.
The new legislation features a provision that gets rid of federal income taxes on Social Security benefits for some beneficiaries, providing relief to individuals and couples.
The Monthly bill makes sure that almost ninety% of Social Stability beneficiaries will not spend federal profits taxes on their own Advantages, furnishing meaningful and quick reduction to seniors that have expended a life span contributing to our country’s financial state.
By substantially lowering the tax load on Gains, this laws reaffirms President Trump’s promise to safeguard Social Security and will help be sure that seniors can improved enjoy the retirement they’ve attained.”
July 13, 2025 six:13PM When you and/or your wife or husband worked difficult for many years and the government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Far too negative that countless citizens sport the system and acquire in excess of they ought to be entitled to get.
July 12, 2025 8:50PM You will be one that can gain. Speak to your tax particular person- but as I realize it, you can submit a get more info brand new withholding kind to possess much less taken out OR it is possible to assert the $6k at tax time. I’m not a specialist but that’s how I go through it.
There is not any change in the taxability of social protection Rewards. The Monthly bill only gives A brief reward deduction of $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.
July more info fifteen, 2025 8:04AM I receive a smaller pension as well as my social protection month-to-month. I've a little financial commitment account. If I pull income out, it results in my profits to go the earnings limit and my SSI is taxed. Will this continue to be the situation?
July 10, 2025 six:24PM How is any person speculated to rely on this Administration’s postings when they are fundamentally biased and downright deceptive? Like Many others submitting on listed here, That is almost nothing but gaslighting and fanfare. The facts espoused are spurious to state the the very least.
The info? The recently signed legislation is projected to additional to weaken the Social Stability plan and its income. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, along with its hurt to retirees.
People here professing social protection Rewards who are underneath 65 or previously mentioned All those earning thresholds will see no tax profit.