The Social Safety Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely professing it eliminates federal profits taxes on most retirees’ benefits.
It does so by offering an enhanced deduction for taxpayers aged sixty five and older, making sure that retirees can retain additional of what they acquired.
Social Safety continues to be dedicated to furnishing timely, correct information to the public and may continue on Doing work carefully with federal associates to guarantee beneficiaries understand how this legislation may perhaps impact them.
Hence, the additional $6000 deduction and no taxes on SS implies Totally practically nothing to us. We've been dealing with the upper costs but have received practically nothing With all the passage of your BBB.
July 12, 2025 three:20PM So essentially, for the reason that I’m forty three and obtain SSDI this Monthly bill modifications nothing at all for me Although I labored LONG HARD several hours to get paid the very little little bit of money which i do get… because concerning my spouse and I, we do make beneath $150k a calendar year, but nevertheless sufficient that part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've recognized a difference in the best way details is offered by SSA. I see no distinct data on how this influences 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 believe it After i see it” short article.
The brand new law includes a provision that gets rid of federal money taxes on Social Stability Added benefits for some beneficiaries, supplying reduction to persons and couples.
The bill makes sure that nearly 90% of Social Stability beneficiaries will no more pay out federal cash flow taxes on their own Added benefits, giving meaningful and fast aid to seniors who definitely have spent a lifetime contributing to our nation’s economic system.
By significantly lowering the tax burden on Advantages, this laws reaffirms President Trump’s promise to protect Social Security and will help make sure that seniors can greater enjoy the retirement they’ve earned.”
July 13, 2025 six:13PM When you and/or your wife or husband labored really hard for many years get more info and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. As well poor that countless citizens game the technique and choose greater than they need to be entitled to obtain.
July 12, 2025 eight:50PM That you are a person that will benefit. Talk to your tax man or woman- but as I comprehend it, you'll be able to post a fresh withholding sort to possess significantly less taken out OR you'll be able to declare the $6k at tax time. I’m not a professional but that’s how I read through it.
There is no modify while in the taxability of social stability Gains. The bill only provides A short lived bonus deduction of $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I receive a tiny pension in conjunction check here with my social protection month to month. I've a little expenditure account. If I pull income out, it check here results in my cash flow to move the money limit and my SSI is taxed. Will this even now be the case?
July 10, 2025 six:24PM How is any person speculated to rely on this Administration’s postings when they are fundamentally biased and downright misleading? Like Other folks submitting on right here, This is certainly almost nothing but gaslighting and fanfare. The information espoused are spurious to mention the least.
The details? The recently signed legislation is projected to even more to weaken the Social Safety program and its income. The SSA’s statement can be a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, together with its hurt to retirees.
People today claiming social security Advantages who are under sixty five or above Those people earning thresholds will see no tax benefit.