The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely professing it gets rid of federal cash flow taxes on most retirees’ Positive aspects.
It does so by providing an enhanced deduction for taxpayers aged sixty five and older, guaranteeing that retirees can preserve a lot more of the things they earned.
Social Security stays committed to delivering timely, exact information and facts to the general public and will continue on Doing work closely with federal associates to be certain beneficiaries know how this legislation may possibly influence them.
Consequently, the extra $6000 deduction and no taxes on SS implies absolutely absolutely nothing to us. We've been coping with the upper costs but have gained absolutely nothing with the passage on the BBB.
July twelve, 2025 3:20PM So generally, because I’m 43 and get SSDI this Monthly bill variations nothing for me While I labored LONG HARD several hours to get paid the minor little bit of cash that I do get… due to the fact concerning my husband and I, we do make below $150k a 12 months, but nevertheless enough that Portion of mine is considered “taxable “
July eleven, 2025 2:45PM I have observed a variation in the way information and facts is presented by SSA. I see no precise information on how this impacts me for the long term. I am seventy three now and would like to see our Gains not taxed. However, it’s a “I’ll believe it when I see it” short article.
The new law features a provision that gets rid of federal cash flow taxes on Social Safety Rewards for the majority of beneficiaries, giving reduction to folks and partners.
The Monthly bill makes sure that nearly ninety% of Social Safety beneficiaries will now not shell out federal earnings taxes on their own Gains, delivering meaningful and instant aid to seniors who may have spent a life span contributing to our nation’s financial state.
By appreciably lowering the tax more info burden on Added benefits, this legislation reaffirms President Trump’s guarantee to shield Social Safety and allows make certain that seniors can far better take pleasure in the retirement they’ve attained.”
July thirteen, 2025 6:13PM Should you and/or your husband or wife worked challenging for many years and the government took deductions for SS then Of course, a citizen justifies website the payments they promised you in retirement. As well terrible that lots of citizens sport the process and choose over they ought to be entitled to get.
July twelve, 2025 8:50PM You will be one that can reward. Talk with your tax human being- but as I know it, you are able to submit a fresh withholding type to get a lot less taken out OR you could assert the $6k at tax time. I’m not a professional but that’s how I browse it.
There is no improve within the taxability of social protection Advantages. The bill only offers A short lived reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I receive a tiny pension together with my social safety regular. I have a small expense account. If I pull revenue out, it results in my money to go the revenue Restrict and my SSI is taxed. Will this however be the case?
July ten, 2025 six:24PM How is everyone designed to rely on this Administration’s postings when they are essentially biased and downright misleading? Like Many others submitting on in this article, That is very little but gaslighting and fanfare. The facts espoused are spurious to convey the the very least.
The information? The freshly signed regulation is projected to even more to weaken the Social Security method and its revenue. The SSA’s statement is a blatant lie and falsely misrepresents the Invoice which was signed into regulation, as well as its damage to retirees.
Individuals professing social stability benefits that are less than 65 or above Individuals earning thresholds will see no tax reward.