The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it gets rid of federal income taxes on most retirees’ Added benefits.
It does so by offering an Increased deduction for taxpayers aged sixty five and older, making sure that retirees can preserve extra of whatever they acquired.
Social Protection remains committed to providing well timed, exact info to the general public and will continue on Doing the job closely with federal companions to make certain beneficiaries know how this legislation may influence them.
Consequently, the extra $6000 deduction and no taxes on SS means absolutely nothing at all to us. We have been dealing with the upper charges but have received very little Using the passage in the BBB.
July 12, 2025 three:20PM So generally, due to the fact I’m forty three and get SSDI this Monthly bill adjustments nothing for me even though I worked Very long Tricky several hours to receive the minor bit of cash which i do get… due to the fact amongst my husband And that i, we do make below $150k a year, but nonetheless more than enough that Element of mine is considered “taxable “
July 11, 2025 2:45PM I've seen a distinction in the way details is introduced by SSA. I see no precise info on how this has an effect on me for the long run. I'm 73 now and would like to see our Positive aspects not taxed. Nonetheless, it’s a “I’ll imagine it After i see it” short article.
The new regulation includes a provision that eradicates federal earnings taxes on Social Safety benefits for many beneficiaries, furnishing relief to persons and partners.
The Monthly bill ensures that nearly ninety% of Social Stability beneficiaries will no longer shell out federal money taxes on their own Rewards, providing significant and speedy relief to seniors which have spent a lifetime contributing to our nation’s economic climate.
By noticeably decreasing the tax load on Gains, this laws reaffirms President Trump’s guarantee to safeguard Social Safety and allows be sure that seniors can far better benefit from the retirement they’ve attained.”
July 13, 2025 6:13PM When you and/or your spouse worked difficult for many years and The federal government took deductions for SS then Sure, a citizen justifies the payments they promised you in retirement. Also undesirable that a lot of citizens get more info activity the process and take greater than they need to be entitled to receive.
July 12, 2025 get more info 8:50PM That you are a single that can advantage. Speak to your tax individual- but check here as I understand it, you are able to post a different withholding type to possess much less taken out OR it is possible to claim the $6k at tax time. I’m not a professional but that’s how I read through it.
There is absolutely no alter within the taxability of social security Gains. The Invoice only offers a temporary reward deduction of $6k for seniors 65+ and only earning down below $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I get a modest pension in addition to my social safety regular monthly. I have a little investment decision account. If I pull money out, it brings about my profits to go the revenue Restrict and my SSI is taxed. Will this continue to be the case?
July ten, 2025 six:24PM How is any individual supposed to rely on this Administration’s postings when they're fundamentally biased and downright misleading? Like Some others publishing on listed here, This is often nothing at all but gaslighting and fanfare. The info espoused are spurious to state the the very least.
The details? The recently signed law is projected to more to weaken the Social Protection method and its earnings. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into regulation, and its hurt to retirees.
People declaring social safety Rewards that are underneath sixty five or earlier mentioned All those earning thresholds will see no tax advantage.