The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it gets rid of federal money taxes on most retirees’ Gains.
It does so by furnishing an Improved deduction for taxpayers aged sixty five and older, making sure that retirees can maintain much more of what they attained.
Social Safety stays dedicated to providing well timed, exact information and facts to the public and will proceed Doing the job carefully with federal associates to ensure beneficiaries understand how this laws may possibly impact them.
Hence, the additional $6000 deduction and no taxes on SS suggests Definitely nothing to us. We're handling the upper expenditures but have acquired absolutely nothing While using the passage of your BBB.
July 12, 2025 three:20PM So essentially, due to the fact I’m 43 and obtain SSDI this Invoice changes very little for me Despite the fact that I labored Extensive Tough hours to receive the very little bit of cash that I do get… since among my partner And that i, we do make underneath $150k a year, but nevertheless enough that Section of mine is considered “taxable “
July eleven, 2025 2:45PM I've observed a change in the best way facts is presented by SSA. I see no distinct details on how this impacts me for the long term. I am 73 now and would like to see our benefits not taxed. Nonetheless, it’s a “I’ll believe it After i see it” article.
The brand new legislation includes a provision that gets rid of federal cash flow taxes on Social Stability benefits for most beneficiaries, delivering aid to men and women and couples.
The Monthly bill ensures that nearly 90% of Social Safety beneficiaries will no more fork out federal income taxes on their own Gains, giving meaningful and immediate relief to seniors that have put in a life time contributing to our nation’s economic system.
By noticeably lowering the tax stress on Gains, this legislation reaffirms President Trump’s guarantee to safeguard Social Security and can help make sure seniors can superior benefit from the retirement they’ve acquired.”
July 13, 2025 six:13PM If you and/or your husband or wife worked tricky for decades and The federal government took deductions for SS then YES, a citizen warrants the payments they promised you in retirement. Far too undesirable that a lot of citizens sport the technique and just take over they ought to be entitled to obtain.
July twelve, 2025 eight:50PM You're just one that could profit. Speak with your tax particular person- but as I understand it, you'll be able to submit a different withholding type to possess a lot less taken out OR you can declare the $6k at tax time. I’m not a specialist but that’s how I website study it.
There is absolutely no transform inside the taxability of social safety benefits. The Monthly bill only gives A brief reward deduction of $6k for seniors sixty five+ and only earning website beneath $75k if Single or $150k if married.
July 15, 2025 8:04AM I receive a smaller pension together with my social security month to month. I have a small expenditure account. If I pull revenue out, it results in my earnings to move the money Restrict and my SSI is taxed. Will this nonetheless be the case?
July 10, 2025 6:24PM How is any one alleged to believe in this Administration’s postings when they're essentially biased and downright misleading? Like others submitting on here, This really is almost nothing but gaslighting and fanfare. The info espoused are spurious to convey the the very least.
The specifics? The newly signed regulation is projected to more to weaken the Social Protection software and its income. The SSA’s statement is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, together with its hurt to retirees.
Men and women saying social security Gains who will be under sixty five or higher than People earning thresholds will see no tax benefit.