The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it eliminates federal revenue taxes on most retirees’ Advantages.
It does so by delivering an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can retain extra of whatever they gained.
Social Security continues to be devoted to delivering timely, precise facts to the public and will go on Doing the job carefully with federal partners to be sure beneficiaries know how this laws may possibly impact them.
Consequently, the extra $6000 deduction and no taxes on SS implies absolutely nothing at all to us. We have been working with the higher expenditures but have gained practically nothing With all the passage from the BBB.
July twelve, 2025 3:20PM So in essence, since I’m forty three and receive SSDI this bill alterations almost nothing for me Although I labored Lengthy Challenging hrs to make the little bit of cash that I do get… for the reason that involving my husband and I, we do make under $150k a year, but still more than enough that Portion of mine is taken into account “taxable “
July 11, 2025 2:45PM I've noticed a big difference in the way in which facts is introduced by SSA. I see no precise data on how this has an effect on me for the long term. I am 73 now and would love to see our Advantages not taxed. Nonetheless, it’s a “I’ll imagine it Once i see it” report.
The new law features a provision that eliminates federal profits taxes on Social Safety Positive aspects for most beneficiaries, furnishing reduction to persons and couples.
The bill makes certain that approximately 90% of Social Security beneficiaries will no longer pay federal revenue taxes on their Positive aspects, providing significant and speedy aid to seniors which have put in a lifetime contributing to our country’s economic system.
By noticeably cutting down the tax load on Gains, this laws reaffirms President Trump’s promise to guard Social Protection and can help make certain that seniors can superior benefit from the retirement they’ve acquired.”
July thirteen, 2025 6:13PM For those who and/or your partner worked tricky for decades and the government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Far too poor that numerous citizens activity the method and choose over they ought to be entitled to acquire.
July twelve, 2025 eight:50PM That you are a single that should benefit. Speak with your tax particular person- but as I know it, you'll be able to submit a whole new withholding sort to acquire less taken out OR you are able to claim the $6k at tax time. I’m not a professional but that’s how I read through it.
There isn't a improve in the taxability of social protection Positive aspects. website The Monthly bill only presents a temporary reward deduction of $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.
July fifteen, 2025 8:04AM I receive a small pension in addition to my social security month-to-month. I've a small investment decision account. If I pull dollars out, it causes my money to move the money limit and my SSI is taxed. Will this nevertheless be the situation?
July 10, 2025 6:24PM How is anybody speculated to rely on this Administration’s postings when they are basically biased and downright misleading? Like Many others submitting on in this article, This is certainly nothing at all but gaslighting and fanfare. The facts espoused are spurious to mention the least.
The specifics? The freshly signed law is projected to even further to weaken the Social Security program and its revenue. The SSA’s website assertion is actually a blatant lie and falsely misrepresents the Invoice which was signed into legislation, along with its hurt to retirees.
Persons professing social security Positive aspects who will be below sixty five or above All those earning thresholds will see no tax benefit.