The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it eliminates federal money taxes on most retirees’ Advantages.
It does so by furnishing an enhanced deduction for taxpayers aged sixty five and more mature, making sure that retirees can keep a lot more of whatever they attained.
Social Safety continues to be dedicated to supplying timely, exact details to the public and can keep on Operating carefully with federal associates to make certain beneficiaries understand how this laws could influence them.
Consequently, the additional $6000 deduction and no taxes on SS usually means Totally absolutely nothing to us. We're dealing with the upper prices but have received nothing Using the passage from the BBB.
July 12, 2025 three:20PM So in essence, because I’m forty three and get SSDI this Invoice modifications nothing at all for me Despite the fact that I labored Very long Challenging hours to make the small bit of cash that I do get… because among my spouse and I, we do make below $150k a calendar year, but nevertheless sufficient that Element of mine is taken into account “taxable “
July 11, 2025 two:45PM I've found a change in the way in which data is presented by SSA. I see no unique data on how this has an effect on me for the long run. I am 73 now and would like to see our Advantages not taxed. Having said that, it’s a “I’ll think it After i see it” post.
The brand new legislation includes a provision that gets rid of federal income taxes on Social Stability Gains for some beneficiaries, offering aid to people and couples.
The Invoice ensures that virtually ninety% of Social Stability beneficiaries will no longer shell out federal profits taxes on their own Rewards, delivering significant and immediate relief to seniors who may have expended a life span contributing to our nation’s economic system.
By significantly decreasing the tax stress on Positive aspects, this laws reaffirms President Trump’s assure to shield Social Stability and assists be sure that seniors can superior enjoy the retirement they’ve attained.”
July 13, 2025 six:13PM In the event you and/or your wife or husband labored tricky for many years and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. As well lousy that lots of citizens sport the procedure and get a lot more than they must be entitled to obtain.
July 12, 2025 8:50PM You will be one that may reward. Speak with your tax individual- but as I understand it, you'll be able to post a completely new withholding variety to obtain much less taken out social locker plugin OR you may claim the $6k at tax time. I’m not a specialist but that’s how I examine it.
There is not any transform in the taxability of social protection Rewards. The bill only offers A brief bonus deduction of $6k for seniors 65+ and only earning underneath $75k if Solitary or $150k if married.
July fifteen, 2025 eight:04AM I get a compact pension read more in addition to my social stability monthly. I have a little investment decision account. If I pull revenue out, it brings about my money to pass the cash flow limit and my SSI is taxed. Will this still be the case?
July ten, 2025 six:24PM How is everyone supposed to have faith in this Administration’s postings when they're basically biased and downright deceptive? Like Other individuals putting up on in this article, This can be almost nothing but gaslighting and fanfare. The facts espoused are spurious to mention the minimum.
The info? The freshly signed regulation is projected to further more to weaken the Social Security system and its income. The SSA’s statement is a blatant lie and falsely misrepresents the Monthly bill which was signed into regulation, together with its damage to retirees.
People today saying social stability Advantages who're beneath 65 or over People earning thresholds will see no tax advantage.