The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it eradicates federal profits taxes on most retirees’ Rewards.
It does so by giving an Increased deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can maintain additional of whatever they acquired.
Social Safety remains committed to supplying timely, exact info to the general public and will proceed Operating carefully with federal companions to make certain beneficiaries understand how this laws might have an impact on them.
Hence, the additional $6000 deduction and no taxes on SS usually means absolutely very little to us. We're coping with the upper expenses but have received nothing at all Together with the passage in the BBB.
July twelve, 2025 3:20PM So fundamentally, since I’m 43 and get SSDI this Monthly bill modifications almost nothing for me even though I worked Prolonged Difficult several hours to generate the little bit of money which i do get… for the reason that involving my spouse And that i, we do make underneath $150k a calendar year, but still more than enough that Component of mine is considered “taxable “
July 11, 2025 two:45PM I have seen a distinction in how data is introduced by SSA. I see no unique knowledge on how this affects me for the long term. I am seventy three now and would like to see our Added benefits not taxed. Even so, it’s a “I’ll believe it when I see it” short article.
The new legislation includes a provision that removes federal profits taxes on Social Stability Added benefits for most beneficiaries, furnishing reduction to persons and partners.
The bill ensures that nearly 90% of Social Protection beneficiaries will no longer pay back federal profits taxes on their Added benefits, providing meaningful and rapid relief to seniors who definitely have used a life span contributing to our nation’s economic system.
By considerably cutting down the tax stress on Advantages, this laws reaffirms President Trump’s promise to shield Social Safety and assists make certain that seniors can far better enjoy the retirement they’ve earned.”
July 13, 2025 6:13PM Should you and/or your husband or wife labored difficult for many years and the government took deductions for SS then Indeed, a citizen deserves the payments they promised you in retirement. As well bad that so many citizens recreation the process and just take in excess of they need to be entitled to get.
July twelve, 2025 8:50PM You happen to be one that can gain. Discuss with your tax particular person- but as I understand it, you can submit a fresh withholding form to have get more info fewer taken out OR you may claim the $6k at tax time. I’m not an expert but that’s how I browse it.
There is not any adjust while in the taxability of social security Gains. The bill only presents A brief bonus deduction of $6k for seniors 65+ and only earning beneath $75k if more info Solitary or $150k if married.
July fifteen, 2025 8:04AM I get a smaller pension in conjunction with my social security regular. I have a small financial investment account. If I pull cash out, it will cause my earnings to move the income limit and my SSI is taxed. Will this even now be the situation?
July ten, 2025 six:24PM How is any one alleged to trust this Administration’s postings when they're basically biased and downright deceptive? Like Other people posting on in this article, This really is absolutely nothing but gaslighting and fanfare. The information espoused are spurious to convey the least.
The facts? The newly signed law is projected to more to weaken the Social Security software and its revenue. The SSA’s assertion is actually a blatant lie and falsely misrepresents the Invoice that was signed into legislation, in addition to its hurt to retirees.
Individuals boasting social protection click here benefits who're below 65 or earlier mentioned People earning thresholds will see no tax gain.