The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it removes federal cash flow taxes on most retirees’ Gains.
It does so by giving an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can maintain more of the things they gained.
Social Safety continues to be committed to providing timely, precise information to the general public and may carry on Doing work intently with federal companions to make certain beneficiaries understand how this legislation may affect them.
Hence, the additional $6000 deduction and no taxes on SS indicates Totally absolutely nothing to us. We're handling the higher charges but have gained almost nothing While using the passage of the BBB.
July twelve, 2025 three:20PM So in essence, for the reason that I’m forty three and obtain SSDI this Invoice adjustments nothing at all for me Though I worked Lengthy Tough hours to make the tiny bit of money which i do get… simply because in between my spouse And that i, we do make beneath $150k a 12 months, but still adequate that Component of mine is considered “taxable “
July eleven, 2025 two:45PM I've seen a change in just how info is introduced by SSA. I see no particular information on how this impacts me for the long term. I'm seventy three now and would like to see our Added benefits not taxed. Having said that, it’s a “I’ll imagine it when I see it” posting.
The brand new law includes a provision that gets rid of federal earnings taxes on Social Security Rewards for the majority of beneficiaries, giving reduction to people today and couples.
The Monthly bill makes certain that practically 90% of Social Protection beneficiaries will now not pay out federal money taxes on their Positive aspects, providing significant and fast aid to seniors who've used a life time contributing to our country’s financial system.
By substantially lessening the tax stress on benefits, this legislation reaffirms President Trump’s promise to protect Social Stability and allows ensure that seniors can improved benefit from the retirement they’ve acquired.”
July thirteen, 2025 6:13PM In the event you and/or your wife or husband labored tough for decades and the government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. As well poor that numerous citizens recreation the technique and acquire in excess of they need to be entitled to obtain.
July twelve, 2025 eight:50PM You are 1 that should benefit. Speak with your tax person- but as I understand it, you'll be able to submit a completely new withholding sort to get significantly less taken out OR you'll be able to claim the $6k at tax time. I’m not a professional but that’s how I go through it.
There isn't any change from the taxability of social safety Gains. The Invoice only presents A brief reward deduction of $6k for seniors 65+ and only read more earning below $75k if Solitary or $150k more info if married.
July 15, 2025 8:04AM I get a tiny pension along with my social protection month-to-month. I have a little financial commitment account. If I pull revenue out, it will cause my revenue to go the income limit and my SSI is taxed. Will this nevertheless be the situation?
July 10, 2025 6:24PM How is anybody supposed to rely on this Administration’s postings when they click here are fundamentally biased and downright misleading? Like Some others putting up on here, That is absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to convey the the very least.
The details? The recently signed legislation is projected to even further to weaken the Social Stability program and its revenue. The SSA’s statement can be a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, and also its hurt to retirees.
Folks claiming social safety Positive aspects who are underneath 65 or above those earning thresholds will see no tax profit.