The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it gets rid of federal revenue taxes on most retirees’ Rewards.
It does so by providing an enhanced deduction for taxpayers aged 65 and more mature, making certain that retirees can maintain a lot more of the things they acquired.
Social Safety stays devoted to supplying well timed, accurate info to the public and can continue Doing the job closely with federal associates to ensure beneficiaries know how this legislation may perhaps have an impact on them.
As a result, the additional $6000 deduction and no taxes on SS implies Completely nothing to us. We are working with the upper expenses but have gained absolutely nothing Along with the passage with the BBB.
July 12, 2025 three:20PM So fundamentally, for the reason that I’m forty three and acquire SSDI this Monthly bill modifications very little for me While I worked Extended Tricky hours to receive the tiny little bit of cash which i do get… mainly because amongst my spouse and I, we do make beneath $150k a calendar year, but nonetheless more than enough that Component of mine is taken into account “taxable “
July eleven, 2025 two:45PM I have observed a difference in just how data is offered by SSA. I see no certain knowledge on how this affects me for the long run. I'm 73 now and would love to see our Positive aspects not taxed. Having said that, it’s a “I’ll feel it Once i see it” short article.
The new law features a provision that gets rid of federal cash flow taxes on Social Security Rewards for click here some beneficiaries, delivering relief to persons and couples.
The Invoice makes certain that practically ninety% of Social Stability beneficiaries will not fork get more info out federal revenue taxes on their Added benefits, offering meaningful and immediate reduction to seniors who may have put in a lifetime contributing to our country’s overall economy.
By noticeably reducing the tax burden on Advantages, this legislation reaffirms President Trump’s promise to guard Social Security and assists make sure seniors can improved benefit from the retirement they’ve gained.”
July thirteen, 2025 6:13PM If you and/or your husband or wife labored tricky for decades and The federal government took deductions for more info SS then Certainly, a citizen justifies the payments they promised you in retirement. Also terrible that numerous citizens sport the program and consider over they must be entitled to get.
July twelve, 2025 eight:50PM You're one which will profit. Check with your tax man or woman- but as I comprehend it, it is possible to submit a new withholding kind to have much less taken out OR you are able to declare the $6k at tax time. I’m not an authority but that’s how I examine it.
There's no improve in the taxability of social security Gains. The Monthly bill only offers a temporary reward deduction of $6k for seniors sixty five+ and only earning underneath $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I receive a small pension in conjunction with my social safety monthly. I've a small investment decision account. If I pull funds out, it causes my cash flow to move the income limit and my SSI is taxed. Will this continue to be the case?
July 10, 2025 six:24PM How is anyone imagined to trust this Administration’s postings when they are basically biased and downright misleading? Like Many others putting up on here, That is nothing at all but gaslighting and fanfare. The facts espoused are spurious to mention the least.
The details? The newly signed law is projected to more to weaken the Social Stability application and its income. The SSA’s statement is usually a blatant lie and falsely misrepresents the Invoice that was signed into regulation, along with its hurt to retirees.
People today boasting social stability benefits who will be under 65 or earlier mentioned those earning thresholds will see no tax advantage.