The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely professing it gets rid of federal cash flow taxes on most retirees’ Rewards.
It does so by supplying an enhanced deduction for taxpayers aged sixty five and older, ensuring that retirees can preserve a lot more of whatever they acquired.
Social Safety remains committed to furnishing timely, correct data to the public and may go on Operating closely with federal companions to ensure beneficiaries know how this laws may possibly have an effect on them.
For that reason, the additional $6000 deduction and no taxes on SS indicates Completely nothing at all to us. We have been managing the higher expenses but have been given very little Together with the passage from the BBB.
July 12, 2025 3:20PM So mainly, because I’m 43 and acquire SSDI this Monthly bill alterations almost nothing for me Although I worked Extended Really hard several hours to gain the minor bit of cash which i do get… because amongst my spouse and I, we do make beneath $150k a 12 months, but nevertheless plenty of that part of mine is taken into account “taxable “
July 11, 2025 2:45PM I have seen a variation in the best way data is offered by SSA. I see no distinct data on how this has an effect on me for the long run. I'm 73 now and would like to see our Gains not taxed. Having said that, it’s a “I’ll feel it when I see it” posting.
The brand new legislation features a provision that removes federal earnings taxes on Social Protection Added benefits for many beneficiaries, providing relief to people today and couples.
The bill makes certain that practically ninety% of Social Security beneficiaries will not pay federal money taxes on their own Advantages, furnishing significant and quick aid to seniors who definitely have spent a lifetime contributing to our country’s overall economy.
By substantially cutting down the tax stress on Gains, this laws reaffirms President Trump’s promise to guard Social Protection and can help ensure that seniors can improved take pleasure in the retirement they’ve earned.”
July 13, 2025 six:13PM For those who and/or your wife or husband worked challenging for decades and The federal government took deductions for SS then Of course, a citizen deserves the payments they promised you in retirement. Way too terrible that lots of citizens activity the procedure and acquire in excess of they need to be entitled to acquire.
July 12, 2025 8:50PM You're a single that could reward. Speak to your tax human being- but as I are aware of it, you are able to submit a new withholding kind to get much less taken out OR you may assert the $6k at tax time. I’m not a professional but that’s how website I read it.
There is not any alter while in the taxability of social protection Advantages. The Invoice only offers A short lived reward deduction of $6k for seniors sixty five+ and only earning here down below $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a compact pension in addition to my social protection every month. I've a small investment decision account. If I pull funds out, it will cause my earnings to pass the money Restrict and my SSI is taxed. Will this however be the case?
July ten, 2025 six:24PM How is any individual alleged to have faith in this Administration’s postings when they are essentially biased and downright misleading? Like Other people putting up on listed here, This can be absolutely nothing but gaslighting and fanfare. The facts espoused are spurious to state the least.
The facts? The website newly signed legislation is projected to further more to weaken the Social Security software and its revenue. The SSA’s statement is usually a blatant lie and falsely misrepresents the bill that was signed into legislation, along with its damage to retirees.
Persons declaring social protection benefits who're below 65 or earlier mentioned Those people earning thresholds will see no tax benefit.