The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely claiming it removes federal cash flow taxes on most retirees’ Added benefits.
It does so by furnishing an enhanced deduction for taxpayers aged sixty five and older, making certain that retirees can hold more of what they earned.
Social Stability stays devoted to supplying timely, correct details to the public and can proceed working closely with federal associates to be sure beneficiaries know how this legislation may well have an impact on them.
Therefore, the extra $6000 deduction and no taxes on SS usually means Unquestionably absolutely nothing to us. We have been addressing the upper costs but have obtained nothing With all the passage on the BBB.
July 12, 2025 3:20PM So essentially, due to the fact I’m forty three and get SSDI this Monthly bill changes very little for me Regardless that I labored Very long HARD several hours to earn the little little bit of money which i do get… for the reason that in between my partner and I, we do make less than $150k a calendar year, but nevertheless ample that Section of mine is taken into account “taxable “
July eleven, 2025 two:45PM I have found a variance in the best way details is presented by SSA. I see no precise knowledge on how this affects me for the long term. I am seventy three now and would like to see our Gains not taxed. Even so, it’s a “I’ll believe that it when I see it” write-up.
The brand new regulation features a provision that eliminates federal earnings taxes on Social Stability Positive aspects for most beneficiaries, furnishing reduction to people today and couples.
The Monthly bill makes sure that more info virtually ninety% of Social Security beneficiaries will now not shell out federal earnings taxes on their own Gains, delivering meaningful and quick aid to seniors who definitely have invested a life span contributing to our nation’s economy.
By substantially lessening the tax load on Positive aspects, this laws reaffirms President Trump’s promise to safeguard Social Safety and will help ensure that seniors can far better enjoy the retirement they’ve gained.”
July 13, 2025 6:13PM Should you and/or your partner worked tough for decades and the government took deductions for SS then Sure, a citizen deserves the payments they promised you in retirement. Also lousy that read more numerous citizens game the system and take over they need to be entitled to receive.
July twelve, 2025 eight:50PM That you are one particular that can benefit. Speak to your tax human being- but as I understand it, it is possible to post a fresh withholding kind to own considerably less taken out OR you'll be able to claim the $6k at tax time. I’m not a specialist but that’s how I go through it.
There is absolutely no adjust inside the taxability of social stability Rewards. The bill only offers a temporary bonus deduction of $6k for seniors sixty five+ and only earning below $75k if One or $150k if married.
July 15, 2025 eight:04AM I receive a small pension in conjunction with my social security every click here month. I have a small investment account. If I pull income out, it leads to my cash flow to go the cash flow Restrict and my SSI is taxed. Will this even now be the situation?
July 10, 2025 6:24PM How is everyone purported to have faith in this Administration’s postings when they're fundamentally biased and downright deceptive? Like others submitting on listed here, This is often almost nothing but gaslighting and fanfare. The points espoused are spurious to mention the minimum.
The points? The newly signed regulation is projected to further more to weaken the Social Safety system and its income. The SSA’s assertion is actually a blatant lie and falsely misrepresents the Invoice which was signed into law, in addition to its harm to retirees.
Persons saying social protection benefits that are below 65 or over These earning thresholds will see no tax gain.