The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it eliminates federal cash flow taxes on most retirees’ Positive aspects.
It does so by offering an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can retain much more of whatever they earned.
Social Safety continues to be committed to providing timely, precise data to the general public and can continue on Doing the job intently with federal companions to ensure beneficiaries understand how this laws may impact them.
Hence, the additional $6000 deduction and no taxes on SS usually means Certainly nothing to us. We've been coping with the upper prices but have been given nothing at all Together with the passage in the BBB.
July 12, 2025 3:20PM So fundamentally, due to the fact I’m forty three and receive SSDI this bill adjustments nothing at all for me While I worked Extended Challenging hours to get paid the little little bit of money which i do get… due to the fact amongst my husband And that i, we do make beneath $150k a yr, but nevertheless ample that Portion of mine is taken into account “taxable “
July 11, 2025 2:45PM I've noticed a difference in how data is introduced by SSA. I see no unique facts on how this influences me for the long term. I am seventy three now and would like to see our Positive aspects not taxed. Nevertheless, it’s a “I’ll believe it Once i see it” posting.
The new legislation features a provision that gets rid of federal money taxes on Social Safety benefits for many beneficiaries, giving relief to persons and partners.
The Invoice makes certain that practically ninety% of check here Social Protection beneficiaries will not shell out federal earnings taxes on their Gains, offering significant and fast reduction to seniors who have expended a life span contributing to our nation’s financial system.
By considerably minimizing the tax stress on Gains, this laws reaffirms President Trump’s promise to protect Social Protection and can help be certain that seniors can improved enjoy the retirement they’ve attained.”
July 13, 2025 6:13PM Should you and/or your partner worked tough for decades and the government took deductions for SS then Sure, a citizen warrants the payments they promised you in retirement. website Way too undesirable that a great number of citizens video game the process and just take much more than they need to be entitled to acquire.
July 12, 2025 eight:50PM You happen to be a person that will benefit. Check with your tax particular person- but as I understand it, it is possible to submit a brand here new withholding type to get fewer taken out OR you'll be able to declare the $6k at tax time. I’m not a professional but that’s how I read it.
There is absolutely no adjust in the taxability of social security Advantages. The Invoice only provides a temporary bonus deduction of $6k for seniors sixty five+ and only earning down below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I get a tiny pension in conjunction with my social security every month. I've a small expenditure account. If I pull income out, it leads to my income to go the money Restrict and my SSI is taxed. Will this nevertheless be the case?
July ten, 2025 six:24PM How is anyone imagined to have confidence in this Administration’s postings when they are essentially biased and downright misleading? Like Other people publishing on below, This really is nothing but gaslighting and fanfare. The specifics espoused are spurious to say the the very least.
The info? The freshly signed law is projected to further to weaken the Social Protection plan and its revenue. The SSA’s assertion can be a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, as well as its hurt to retirees.
Persons saying social safety Added benefits who will be under 65 or earlier mentioned Individuals earning thresholds will see no tax benefit.