The Social Safety Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely proclaiming it removes federal cash flow taxes on most retirees’ Rewards.
It does so by providing an Improved deduction for taxpayers aged 65 and older, guaranteeing that retirees can retain more of whatever they earned.
Social Protection continues to be committed to providing timely, precise information to the public and will keep on Operating carefully with federal companions to make sure beneficiaries understand how this laws may possibly affect them.
Consequently, the additional $6000 deduction and no taxes on SS implies Definitely nothing at all to us. We've been dealing with the higher charges but have received nothing With all the passage on the BBB.
July 12, 2025 three:20PM So basically, simply because I’m forty three and acquire SSDI this bill adjustments very little for me Though I worked Extended Tricky hours to make the minor little bit of money that I do get… since among my partner And that i, we do make below $150k a 12 months, but still ample that Component of mine is considered “taxable “
July 11, 2025 two:45PM I have discovered a variation in how details is offered by SSA. I see no particular data 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. Even so, it’s a “I’ll imagine it when I see it” posting.
The brand new legislation includes a provision that eradicates federal revenue taxes on Social Security Gains for some beneficiaries, providing relief to individuals and couples.
The bill makes certain that virtually 90% of Social Stability beneficiaries will not pay out federal profits taxes on their own Gains, delivering meaningful and speedy aid to seniors who've put in a life time contributing to our country’s economy.
By considerably lessening the tax stress on benefits, this laws reaffirms President Trump’s guarantee to shield Social Protection and will help ensure that seniors can click here superior take pleasure in the retirement they’ve acquired.”
July 13, 2025 6:13PM In the event you and/or your wife or husband labored tough for decades and the government took deductions more info for SS then Sure, a citizen justifies the payments they promised you in retirement. As well bad that a lot of citizens sport the program and just take much more than they ought to be entitled to acquire.
July twelve, 2025 8:50PM You're a person which will profit. Speak with your tax man or woman- but as I understand it, you can post a different withholding kind to have considerably less taken out OR it is possible to assert the $6k at tax time. I’m not a professional but that’s how I go through it.
There is no change within the taxability of social stability Gains. The Invoice only offers A brief bonus deduction of $6k for seniors sixty five+ and only earning down below $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a small pension together with my social security regular monthly. I have a small expenditure account. If I pull funds out, it triggers my income to move the income Restrict and my SSI is taxed. Will this continue to be the case?
July 10, 2025 6:24PM How is anyone speculated to have faith in this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other people publishing on right here, That is very little but gaslighting and fanfare. The specifics espoused are spurious to convey the least.
The information? The recently signed regulation is projected to further more to weaken the Social Protection read more program and its revenue. The SSA’s statement can be a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, and also its harm to retirees.
Folks declaring social protection Added benefits who are under 65 or higher than All those earning thresholds will see no tax advantage.