The Social Protection Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely claiming it removes federal earnings taxes on most retirees’ Advantages.
It does so by furnishing an enhanced deduction for taxpayers aged 65 and more mature, making sure that retirees can retain far more of the things they gained.
Social Safety continues to be committed to offering timely, precise data to the public and will continue on Functioning closely with federal associates to make sure beneficiaries know how this legislation may well have an effect on them.
Consequently, the extra $6000 deduction and no taxes on SS signifies Certainly nothing at all to us. We're dealing with the higher prices but have obtained nothing With all the passage in the BBB.
July 12, 2025 three:20PM So generally, simply because I’m 43 and receive SSDI this Monthly bill alterations almost nothing for me While I worked Extensive Difficult several hours to gain the tiny little bit of money which i do get… because concerning my spouse And that i, we do make below $150k a 12 months, but nevertheless adequate that Section of mine is considered “taxable “
July eleven, 2025 2:45PM I've recognized a big difference in just how details is offered by SSA. I see no unique information on how this impacts me for the long run. I am 73 now and would love to see our Positive aspects not taxed. However, it’s a “I’ll feel it After i see it” post.
The new regulation includes a provision that eradicates federal income taxes on Social Protection Positive aspects for many beneficiaries, giving reduction to men and women and couples.
The bill makes certain that virtually more info 90% of Social Security beneficiaries will not fork out federal income taxes on their own benefits, furnishing meaningful and immediate aid to seniors who have used a life span contributing to our country’s financial system.
By drastically decreasing the tax load on Advantages, this legislation reaffirms President Trump’s assure to shield Social Safety and assists make certain that seniors can much better take pleasure in the retirement they’ve acquired.”
July 13, 2025 6:13PM If you and/or your partner labored hard for decades and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Also terrible here that numerous citizens video game the technique and just take more than they need to be entitled to get.
July twelve, 2025 8:50PM You're a single that may profit. Talk with your tax person- but as I comprehend it, you are able to submit a brand new withholding kind to acquire less taken out OR you can claim the $6k at tax time. I’m not a professional but that’s how I examine it.
There is absolutely no modify from the taxability of social safety Rewards. The Invoice only read more provides a temporary reward deduction of $6k for seniors 65+ and only earning underneath $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a little pension in conjunction with my social stability every month. I have a little financial investment account. If I pull money out, it causes my cash flow to move the earnings Restrict and my SSI is taxed. Will this still be the case?
July 10, 2025 six:24PM How is any person designed to belief this Administration’s postings when they're basically biased and downright misleading? Like others putting up on listed here, This can be practically nothing but gaslighting and fanfare. The specifics espoused are spurious to say the the very least.
The details? The newly signed legislation is projected to even further to weaken the Social Security program and its earnings. The SSA’s assertion can be a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, and its damage to retirees.
Men and women claiming social security Positive aspects who will be below sixty five or over those earning thresholds will see no tax gain.