The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely saying it gets rid of federal income taxes on most retirees’ Added benefits.
It does so by delivering an Increased deduction for taxpayers aged sixty five and older, making certain that retirees can preserve a lot more of whatever they attained.
Social Safety remains committed to furnishing well timed, correct information to the public and may continue Doing work intently with federal companions to guarantee beneficiaries understand how this laws may perhaps affect them.
Thus, the extra $6000 deduction and no taxes on SS suggests Completely almost nothing to us. We're addressing the higher expenses but have been given absolutely nothing Along with the passage in the BBB.
July 12, 2025 3:20PM So generally, since I’m 43 and obtain SSDI this Monthly bill variations practically nothing for me Although I worked LONG Challenging hrs to receive the minimal little bit of money that I do get… due to the fact between my spouse and I, we do make below $150k a calendar year, but nevertheless ample that Component of mine is taken into account “taxable “
July 11, 2025 2:45PM I have found a variation in the way in which facts is introduced by SSA. I see no certain details on how this has an effect on me for the long term. I'm seventy three now and would love to see our Gains not taxed. Nonetheless, it’s a “I’ll believe that it Once i see it” write-up.
The new legislation includes a provision that removes federal profits taxes on Social Security Added benefits for most beneficiaries, giving relief to individuals and partners.
The Invoice makes certain that practically ninety% of Social Safety beneficiaries will now not pay out federal profits taxes on their own Positive aspects, giving significant and rapid relief to seniors who definitely have spent a life span contributing to our country’s overall economy.
By considerably lowering the tax load on Positive aspects, this laws reaffirms President Trump’s promise to safeguard Social Safety and allows be certain that seniors can much better take pleasure in the retirement they’ve earned.”
July thirteen, 2025 6:13PM If you and/or your partner worked tricky for decades and the government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. Way too bad that lots of click here citizens recreation the system and just take much more than they need to be entitled to acquire.
July twelve, 2025 8:50PM You happen to be one that should benefit. Discuss with your tax person- but as I are aware of it, you'll be able to post a brand new withholding sort to acquire less taken out OR it is possible to declare the $6k at tax time. I’m not an authority but that’s how I examine it.
There is not any transform during the taxability of social security Advantages. The Invoice only provides a temporary bonus deduction of $6k for seniors sixty five+ and only earning read more below $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I receive a tiny pension along with my social protection every month. I have a small expense account. If I pull dollars out, it causes my earnings to move the profits Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 6:24PM How is any person imagined to trust this Administration’s postings when they're essentially biased and downright deceptive? Like Other check here folks putting up on here, That is practically nothing but gaslighting and fanfare. The details espoused are spurious to mention the minimum.
The info? The newly signed legislation is projected to even further to weaken the Social Stability plan and its revenue. The SSA’s statement is actually a blatant lie and falsely misrepresents the bill which was signed into legislation, and its damage to retirees.
Individuals boasting social safety Gains who are underneath sixty five or earlier mentioned All those earning thresholds will see no tax advantage.