The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely declaring it gets rid of federal earnings taxes on most retirees’ benefits.
It does so by offering an enhanced deduction for taxpayers aged sixty five and older, making certain that retirees can continue to keep a lot more of whatever they gained.
Social Safety continues to be devoted to furnishing well timed, correct facts to the general public and can carry on Doing the job intently with federal partners to be certain beneficiaries understand how this legislation may well affect them.
For that reason, the additional $6000 deduction and no taxes on SS signifies Completely nothing to us. We are managing the higher fees but have gained absolutely nothing Together with the passage from the BBB.
July 12, 2025 three:20PM So basically, because I’m forty three and get SSDI this Monthly bill alterations almost nothing for me While I worked Lengthy Really hard hours to earn the tiny bit of cash that I do get… due to the fact between my husband And that i, we do make below $150k a 12 months, but still plenty of that A part of mine is taken into account “taxable “
July 11, 2025 two:45PM I have found a big difference in how data is offered by SSA. I see no distinct facts on how this impacts me for the long run. I'm seventy three now and would like to see our Added benefits not taxed. Nevertheless, it’s a “I’ll feel it when I see it” article.
The brand new law includes a provision that gets rid of federal profits taxes on Social Security Advantages for the majority of beneficiaries, giving relief to folks and couples.
The bill makes sure that approximately 90% of Social Security beneficiaries will not shell out federal earnings taxes on their own Positive aspects, offering meaningful and speedy aid to seniors that have expended a lifetime contributing to our nation’s economic climate.
By noticeably decreasing the tax stress on Gains, this laws here reaffirms President Trump’s promise to guard Social Security and helps make certain that seniors can superior take pleasure website in the retirement they’ve attained.”
July 13, 2025 6:13PM Should you and/or your husband or wife worked tough for decades and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Far too poor that lots of citizens sport the system and get in excess of they should be entitled to receive.
July twelve, 2025 8:50PM You will be one particular which will gain. Talk with your tax man or woman- but as I know it, you can post a new withholding sort to own fewer taken out OR you can assert the $6k at tax time. I’m not a professional but that’s how I browse it.
There is absolutely no alter within the taxability of social protection benefits. The Monthly bill only presents A short lived reward deduction of $6k for seniors 65+ and only earning underneath $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I get a smaller pension in conjunction with my social safety regular monthly. I have a small financial investment account. If I pull funds out, it leads to my cash flow to move the revenue Restrict and my SSI is taxed. Will this however be the case?
July 10, 2025 six:24PM How is any person supposed to believe in this Administration’s postings when they're basically biased and downright deceptive? Like Other individuals putting up on listed here, This is certainly very little but gaslighting and fanfare. The specifics espoused are spurious to convey the least.
The specifics? The newly signed regulation is projected to further to weaken the Social Safety application and its earnings. The SSA’s website assertion is often a blatant lie and falsely misrepresents the Invoice that was signed into law, and its damage to retirees.
People boasting social safety Added benefits who are beneath 65 or over those earning thresholds will see no tax advantage.