The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely professing it gets rid of federal profits taxes on most retirees’ Gains.
It does so by providing an Increased deduction for taxpayers aged 65 and more mature, making sure that retirees can preserve much more of what they attained.
Social Protection continues to be committed to furnishing well timed, accurate data to the public and can carry on working intently with federal partners to be certain beneficiaries understand how this laws may have an affect on them.
For that reason, the additional $6000 deduction and no taxes on SS suggests Completely practically nothing to us. We are managing the upper charges but have obtained practically nothing With all the passage with the BBB.
July twelve, 2025 three:20PM So fundamentally, simply because I’m 43 and receive SSDI this bill improvements almost nothing for me even though I labored Very long Tough several hours to make the little bit of money that I do get… since between my partner And that i, we do make underneath $150k a yr, but nonetheless sufficient that Component of mine is considered “taxable “
July 11, 2025 two:45PM I have found a distinction in how details is introduced by SSA. I see no unique facts on how this impacts me for the long term. I am seventy three now and would love to see our benefits not taxed. However, it’s a “I’ll feel it Once i see it” post.
The brand new regulation features a provision that gets rid of federal money taxes on Social Safety Advantages for many beneficiaries, website supplying relief to folks and couples.
The Monthly bill ensures that virtually ninety% of Social Security beneficiaries will now not website fork out federal income taxes on their Gains, giving meaningful and fast reduction to seniors who may have spent a life time contributing to our nation’s financial state.
By significantly minimizing the tax load on Advantages, this legislation reaffirms President Trump’s promise to guard Social Security and helps make certain that seniors can greater take pleasure in the retirement they’ve gained.”
July thirteen, 2025 six:13PM For those who and/or your wife or husband labored difficult for many years and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. As well negative that countless citizens recreation the procedure and just take over they must be entitled to obtain.
July 12, 2025 eight:50PM You will be one which will reward. Speak to your tax particular person- but as I realize it, you may post a brand new withholding sort to acquire much less taken out OR you can declare the $6k at tax time. I’m not a professional but that’s how I read through it.
There's no alter during the taxability of social security benefits. The bill only presents a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.
July 15, 2025 8:04AM I receive a little pension along with my social safety every month. I have a small financial investment account. If I pull money out, it will cause my cash flow to go the income Restrict and my SSI is taxed. Will this nonetheless be the situation?
July ten, 2025 6:24PM How is any person supposed to have confidence in this Administration’s postings when they're fundamentally biased and downright misleading? Like others posting on right here, This is often nothing at all but gaslighting and fanfare. The facts espoused are spurious to say the the very least.
The information? The freshly signed legislation is projected to additional to weaken the Social Safety plan and its earnings. The SSA’s assertion is usually a blatant lie and falsely misrepresents the bill that was signed into regulation, in addition to its hurt to retirees.
People boasting social security Advantages who're under 65 or over All those earning thresholds will see no tax profit.