The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it gets rid of federal revenue taxes on most retirees’ Added benefits.
It does so by delivering an Increased deduction for taxpayers aged 65 and more mature, ensuring that retirees can hold much more of the things they gained.
Social Security remains dedicated to delivering well timed, exact details to the public and may continue Doing the job carefully with federal companions to guarantee beneficiaries know how this laws may affect them.
Consequently, the additional $6000 deduction and no taxes on SS usually means absolutely very little to us. We're managing the upper prices but have received nothing With all the passage from the BBB.
July twelve, 2025 3:20PM So in essence, for the reason that I’m forty three and acquire SSDI this Monthly bill variations very little for me Although I worked Extensive Tricky several hours to receive the very little little bit of money which i do get… mainly because concerning my spouse and I, we do make under $150k a 12 months, but nevertheless more than enough that Element of mine is considered “taxable “
July eleven, 2025 2:45PM I've found a difference in the best way data is presented by SSA. I see no unique knowledge on how this affects me for the long term. I am seventy three now and would love to see our Positive aspects not taxed. However, it’s a “I’ll believe that it when I see it” post.
The brand new regulation includes a provision that gets rid of federal earnings taxes on Social Protection Rewards for some beneficiaries, offering relief to men and women and partners.
The Invoice makes certain that virtually ninety% of Social Stability beneficiaries will no longer shell out federal money taxes on their Positive aspects, providing meaningful and instant reduction to seniors who definitely have used a lifetime contributing to our nation’s financial state.
By substantially minimizing the tax load on Added benefits, this laws reaffirms President Trump’s guarantee to shield Social Stability and assists make sure seniors can superior take pleasure in the retirement they’ve acquired.”
July thirteen, 2025 six:13PM When you and/or your wife or husband labored tough for decades and the government took deductions for SS then Indeed, a citizen deserves the payments they promised you in retirement. Far too lousy that a lot of citizens match the process and acquire much more than they must be entitled to get.
July 12, 2025 eight:50PM You are one that will profit. Talk to your tax particular person- but as I comprehend it, you may submit a brand new withholding type to have less taken out OR you can claim the $6k at tax time. I’m not a professional but that’s how I read through it.
There is not any transform in the taxability of social security benefits. The Invoice only gives A brief reward deduction of $6k for seniors sixty five+ and only earning under $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I receive a small pension along with my social security regular. I've a small financial get more info commitment account. If I pull dollars here out, it brings about my cash flow to move the revenue Restrict and my SSI is taxed. Will this continue to be the situation?
July 10, 2025 six:24PM How is any person imagined to have faith in this Administration’s postings when they are basically biased and downright deceptive? Like Other folks submitting on in this article, This really is nothing at all but gaslighting and fanfare. The points espoused are spurious to convey the minimum.
The information? The freshly signed regulation is projected to more to weaken the Social Protection program and its income. The SSA’s statement click here is a blatant lie and falsely misrepresents the bill that was signed into law, along with its hurt to retirees.
Folks boasting social stability Advantages who will be less than sixty five or above Individuals earning thresholds will see no tax advantage.