The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it gets rid of federal earnings taxes on most retirees’ Positive aspects.
It does so by supplying an Increased deduction for taxpayers aged sixty five and older, guaranteeing that retirees can retain extra of the things they earned.
Social Safety continues to be dedicated to offering timely, precise information to the public and may continue Operating closely with federal companions to be certain beneficiaries understand how this laws might have an effect on them.
Hence, the additional $6000 deduction and no taxes on SS suggests Unquestionably very little to us. We've been coping with the higher expenses but have received practically nothing Together with the passage with the BBB.
July twelve, 2025 3:20PM So generally, due to the fact I’m forty three and get SSDI this bill modifications nothing at all for me Although I worked Prolonged Challenging hours to make the tiny bit of cash that I do get… simply because between my partner and I, we do make beneath $150k a year, but nonetheless sufficient that Portion of mine is taken into account “taxable “
July 11, 2025 two:45PM I've found a variation in the best way info is introduced by SSA. I see no distinct information on how this has an effect on me for the long run. I'm 73 now and would love to see our benefits not taxed. On the other hand, it’s a “I’ll imagine it when I see it” post.
The brand new legislation features a provision that eliminates federal income taxes on Social Security Rewards for most beneficiaries, delivering relief to people today and partners.
The bill ensures that just about ninety% of Social Stability beneficiaries will not fork out federal cash flow taxes on their Positive aspects, delivering significant and rapid aid to seniors who have invested a life span contributing to our nation’s economy.
By substantially lessening the tax burden on Advantages, this legislation reaffirms President Trump’s guarantee to guard Social Safety and will help make sure seniors can better enjoy the retirement they’ve earned.”
July 13, 2025 6:13PM In case you and/or your partner worked difficult for decades and The federal government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Far too undesirable that countless citizens match the system and acquire over they need to be entitled to get.
July twelve, 2025 eight:50PM You will be a person that website should benefit. Talk with your tax human being- but as I comprehend it, you'll be able to post a fresh withholding sort to acquire considerably less taken out OR you can declare the $6k at tax time. I’m not a professional but that’s how I go through it.
There's no adjust during the taxability of social security Advantages. The Invoice only gives a temporary bonus deduction of $6k for seniors 65+ and only earning under $75k if One or $150k if married.
July 15, 2025 eight:04AM I get a compact pension in conjunction with my social security every month. I have a small financial investment account. If I pull dollars out, it leads to my profits to pass the earnings Restrict and my SSI is taxed. Will this however be the case?
July 10, 2025 6:24PM How is anyone alleged to trust this Administration’s postings when they are basically biased and downright deceptive? Like others posting on below, This is often nothing at all but gaslighting and fanfare. The specifics espoused are spurious to convey the least.
The details? The newly signed legislation is projected to further more to weaken the Social Stability plan and its profits. The SSA’s statement is actually a blatant lie and falsely misrepresents the bill that was click here signed into law, in addition to its harm to retirees.
Persons saying social stability check here benefits who are under sixty five or above those earning thresholds will see no tax profit.