The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely declaring it eliminates federal earnings taxes on most retirees’ Gains.
It does so by offering an Improved deduction for taxpayers aged 65 and older, making sure that retirees can maintain a lot more of what they acquired.
Social Stability continues to be committed to furnishing timely, exact details to the general public and will proceed Doing the job carefully with federal partners to ensure beneficiaries know how this legislation may perhaps impact them.
Thus, the additional $6000 deduction and no taxes on SS signifies Totally very little to us. We have been handling the higher charges but have obtained nothing at all Using the passage of the BBB.
July twelve, 2025 3:20PM So basically, due to the fact I’m forty three and receive SSDI this Invoice modifications absolutely nothing for me even though I worked Extensive Really hard hrs to get paid the very little bit of cash that I do get… mainly because among my spouse and I, we do make under $150k a calendar year, but nonetheless ample that Component of mine is taken into account “taxable “
July 11, 2025 two:45PM I've recognized a variation in the way in which information and facts is introduced by SSA. I see no certain knowledge on how this has an effect on me for the long term. I'm seventy three now and would like to see our Positive aspects not taxed. On the other hand, it’s a “I’ll imagine it Once i see it” write-up.
The brand new law includes a provision that gets rid of federal money taxes on Social Safety Added benefits for many here beneficiaries, providing reduction to folks and couples.
The bill ensures that nearly 90% of Social Safety beneficiaries will now not pay out federal cash flow taxes on their own Rewards, furnishing significant and immediate aid to seniors that have put get more info in a life time contributing to our country’s economy.
By drastically reducing the tax stress on Positive aspects, this legislation reaffirms President Trump’s assure to protect Social Stability and helps be certain that seniors can superior benefit from the retirement they’ve attained.”
July thirteen, 2025 click here 6:13PM If you and/or your spouse labored tricky for many years and the government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Way too undesirable that numerous citizens sport the procedure and just take a lot more than they should be entitled to acquire.
July twelve, 2025 8:50PM You happen to be a single that should profit. Speak to your tax particular person- but as I know it, you may submit a completely new withholding sort to own less taken out OR you'll be able to declare the $6k at tax time. I’m not an authority but that’s how I read through it.
There is absolutely no modify inside the taxability of social safety Added benefits. The Invoice only gives a temporary bonus deduction of $6k for seniors 65+ and only earning beneath $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I get a modest pension as well as my social stability monthly. I've a small investment account. If I pull money out, it leads to my income to pass the revenue limit and my SSI is taxed. Will this still be the case?
July 10, 2025 six:24PM How is any person supposed to have faith in this Administration’s postings when they are basically biased and downright misleading? Like Many others posting on in this article, This can be almost nothing but gaslighting and fanfare. The information espoused are spurious to state the least.
The info? The freshly signed regulation is projected to even more to weaken the Social Safety system and its income. The SSA’s assertion is actually a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, and also its damage to retirees.
Individuals proclaiming social protection Advantages who are less than sixty five or above These earning thresholds will see no tax benefit.