The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely boasting it eradicates federal earnings taxes on most retirees’ Positive aspects.
It does so by giving an Increased deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can continue to keep far more of what they gained.
Social Safety continues to be devoted to furnishing well timed, exact information to the public and can continue Functioning carefully with federal associates to ensure beneficiaries understand how this legislation may perhaps have an effect on them.
Hence, the additional $6000 deduction and no taxes on SS implies Definitely practically nothing to us. We've been coping with the higher charges but have gained almost nothing Along with the passage in the BBB.
July 12, 2025 three:20PM So in essence, since I’m 43 and receive SSDI this Invoice adjustments practically nothing for me While I labored Extensive Really hard hours to gain the little bit of cash that I do get… since concerning my spouse and I, we do make underneath $150k a 12 months, but still plenty of that Section of mine is considered “taxable “
July 11, 2025 2:45PM I've recognized a variance in the way in which facts is introduced by SSA. I see no distinct information on how this impacts me for the long run. I'm 73 now and would like to see our Rewards not taxed. Even so, it’s a “I’ll imagine it when I see it” posting.
The brand new law includes a provision that eradicates federal earnings taxes on Social Stability Positive aspects for most beneficiaries, delivering relief to persons and couples.
The Monthly bill makes sure that almost 90% of Social Security beneficiaries will no longer spend federal more info revenue taxes on their Positive aspects, offering significant and quick aid to seniors who definitely have invested a life time contributing to our country’s financial system.
By significantly cutting down the tax stress on Advantages, this legislation reaffirms President Trump’s guarantee to safeguard Social Protection and can help make sure seniors can much better benefit from more info the retirement they’ve acquired.”
July 13, 2025 six:13PM In the event you and/or your husband or wife labored challenging for decades and The federal government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Also poor that a great number of citizens game the technique and acquire more than they need to be entitled to acquire.
July twelve, 2025 8:50PM You might be one particular that could gain. Talk with your tax human being- but as I are aware of it, you get more info may submit a brand new withholding variety to get much less taken out OR you can declare the $6k at tax time. I’m not a specialist but that’s how I examine it.
There's no alter from the taxability of social protection Positive aspects. The Invoice only presents A brief reward deduction of $6k for seniors sixty five+ and only earning down below $75k if Solitary or $150k if married.
July fifteen, 2025 8:04AM I get a small pension along with my social security regular. I've a little financial commitment account. If I pull cash out, it brings about my money to pass the earnings limit and my SSI is taxed. Will this however be the case?
July 10, 2025 6:24PM How is anyone alleged to rely on this Administration’s postings when they are basically biased and downright deceptive? Like Many others posting on in this article, This can be almost nothing but gaslighting and fanfare. The details espoused are spurious to state the the very least.
The info? The newly signed legislation is projected to further to weaken the Social Security system and its profits. The SSA’s statement is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into regulation, as well as its hurt to retirees.
People boasting social security Positive aspects who're beneath 65 or earlier mentioned People earning thresholds will see no tax reward.