The Social Safety Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely claiming it removes federal cash flow taxes on most retirees’ benefits.
It does so by supplying an enhanced deduction for taxpayers aged sixty five and more mature, ensuring that retirees can preserve extra of what they acquired.
Social Stability remains committed to offering well timed, exact details to the general public and may keep on Performing closely with federal associates to be certain beneficiaries understand how this laws may well have an affect on them.
Therefore, the extra $6000 deduction and no taxes on SS implies Completely nothing at all to us. We're managing the upper charges but have gained very little Together with the passage from the BBB.
July twelve, 2025 3:20PM So mainly, due to the fact I’m 43 and get SSDI this Invoice modifications absolutely nothing for me Despite the fact that I labored Extensive Really hard hrs to earn the small little bit of money that I do get… for the reason that amongst my husband And that i, we do make underneath $150k a calendar year, but still sufficient that A part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've discovered a distinction in the way information is introduced by SSA. I see no particular details on how this influences 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 feel it when I see it” write-up.
The brand new regulation features a provision that eradicates federal income taxes on Social Security Rewards for some beneficiaries, delivering aid to men and women and partners.
The bill makes sure that just about ninety% of Social Security beneficiaries will no more pay out federal more info revenue taxes on their own benefits, delivering significant and speedy relief to seniors who may have used a life time contributing to our nation’s economic climate.
By significantly lowering the tax load on Advantages, this laws reaffirms President Trump’s promise to safeguard Social Stability and assists make sure that seniors can improved enjoy the retirement they’ve earned.”
July 13, 2025 six:13PM In the event you and/or your partner worked hard for many years and The federal government took deductions for SS then Indeed, a citizen deserves the payments they promised you in retirement. Also terrible that numerous citizens activity the process and just take a lot more than they need to be entitled to obtain.
July twelve, 2025 eight:50PM That you are a person that should gain. Talk with your tax particular person- but as I are aware of it, you'll be able to submit a brand new withholding form to obtain less taken out OR you'll be able to declare the $6k at tax time. I’m not an expert but that’s how I read it.
There isn't any change inside the taxability of social security benefits. The bill only offers A short lived bonus deduction of $6k for seniors 65+ and only earning down below $75k if Solitary or $150k if married.
July fifteen, 2025 8:04AM I receive a compact pension coupled with my social stability month to month. I have a little investment account. If I pull revenue out, it brings about social locker plugin my money to pass the profits Restrict and my SSI is taxed. Will this nevertheless be the case?
July ten, 2025 six:24PM How is anybody alleged to trust this Administration’s postings when they are basically biased and downright misleading? Like others posting on right here, This is certainly absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to state the minimum.
The info? The freshly signed regulation is projected to further to weaken the Social Security plan and its revenue. The SSA’s statement is actually a blatant lie and falsely misrepresents the Invoice that was signed into legislation, and also its damage to retirees.
Individuals claiming social protection Positive aspects who're less than 65 or previously mentioned People earning thresholds will see no tax advantage.