The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it eliminates federal money taxes on most retirees’ Advantages.
It does so by delivering an Improved deduction for taxpayers aged 65 and more mature, ensuring that retirees can hold more of whatever they gained.
Social Stability stays devoted to providing well timed, precise details to the general public and may continue on Doing the job carefully with federal companions to make certain beneficiaries understand how this legislation may well have an effect on them.
As a result, the extra $6000 deduction and no taxes on SS usually means Totally very little to us. We are coping with the higher charges but have obtained very little Using the passage on the BBB.
July twelve, 2025 3:20PM So generally, since I’m forty three and acquire SSDI this Invoice modifications nothing for me Though I labored Extended Tricky hrs to receive the minimal bit of cash which i do get… because amongst my spouse And that i, we do make under $150k a year, but still adequate that Component of mine is taken into account “taxable “
July eleven, 2025 2:45PM I have observed a change in the best way information and facts is presented by SSA. I see no specific facts on how this affects me for the long run. I'm seventy three now and would like to see our Added benefits not taxed. Nevertheless, it’s a “I’ll think it when I see it” article.
The new regulation features a provision that eradicates federal income taxes on Social Stability Gains for some beneficiaries, giving reduction to individuals and partners.
The Monthly bill ensures that almost 90% of Social Protection beneficiaries will no more spend federal earnings taxes on their own Positive aspects, supplying meaningful and rapid relief to seniors who have expended a life span contributing to our nation’s economic climate.
By considerably lessening the tax burden on Gains, this legislation reaffirms President Trump’s assure to protect here Social Safety and allows be certain that seniors can far better take pleasure in the retirement they’ve acquired.”
July 13, 2025 6:13PM Should you and/or your wife or husband worked challenging for decades and The federal government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Too negative that lots of citizens recreation the technique and consider much more than they need to be entitled to get.
July twelve, 2025 eight:50PM You here are one particular that can gain. Talk to your tax individual- but as I realize it, you may post a new withholding type to own significantly less taken out OR you may assert the $6k at tax time. I’m not a specialist but that’s how I go through it.
There is not any adjust more info inside the taxability of social security Advantages. The Invoice only gives a temporary reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a small pension in conjunction with my social stability regular monthly. I have a little financial investment account. If I pull dollars out, it triggers my revenue to go the income limit and my SSI is taxed. Will this nevertheless be the case?
July 10, 2025 six:24PM How is everyone alleged to belief this Administration’s postings when they are fundamentally biased and downright deceptive? Like Many others putting up on in this article, This is often almost nothing but gaslighting and fanfare. The specifics espoused are spurious to state the minimum.
The points? The freshly signed legislation is projected to more to weaken the Social Security software and its earnings. The SSA’s statement is a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, and its damage to retirees.
Men and women claiming social safety benefits who will be underneath 65 or over Those people earning thresholds will see no tax reward.