The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it eliminates federal money taxes on most retirees’ Added benefits.
It does so by providing an Improved deduction for taxpayers aged 65 and older, making sure that retirees can maintain extra of whatever they acquired.
Social Safety stays devoted to delivering well timed, accurate info to the public and will keep on Doing the job intently with federal partners to be certain beneficiaries know how this laws may perhaps impact them.
For that reason, the additional $6000 deduction and no taxes on SS signifies Unquestionably almost nothing to us. We've been dealing with the higher costs but have obtained absolutely nothing Together with the passage in the BBB.
July twelve, 2025 3:20PM So in essence, because I’m 43 and acquire SSDI this Monthly bill improvements very little for me Regardless that I worked Very long HARD several hours to earn the minor little bit of cash that I do get… simply because concerning my partner and I, we do make under $150k a yr, but still enough that Element of mine is taken into account “taxable “
July 11, 2025 2:45PM I have found a variance in the way in which information is offered by SSA. I see no distinct information on how this has an effect on me for the long run. I am seventy three now and would love to see our Added benefits not taxed. Nonetheless, it’s a “I’ll think it Once i see it” post.
The new law includes a provision that eradicates federal money taxes on Social Security Positive aspects for many beneficiaries, delivering relief to folks and couples.
The bill makes certain that almost ninety% of Social Stability beneficiaries will no longer fork out federal revenue taxes on their own benefits, giving meaningful and rapid reduction to seniors who have spent a life time contributing to our nation’s financial system.
By significantly decreasing the tax stress on benefits, this laws reaffirms President Trump’s promise to guard Social Protection and can help make sure that seniors can greater benefit from the retirement they’ve gained.”
July thirteen, 2025 six:13PM If you and/or your spouse labored tricky for many years and the government took deductions for SS then Sure, a citizen justifies check here the payments they promised you in retirement. As well undesirable that lots of citizens sport the system and acquire much more than they need to be entitled to receive.
July 12, 2025 eight:50PM You happen to be one which will advantage. Speak with your tax individual- but as I comprehend it, you are able to post a completely new withholding kind to get less taken out OR you are able to declare the $6k at tax time. I’m not an authority but that’s how I read it.
There isn't any transform while in the taxability of social security Positive aspects. The bill only offers a temporary bonus more info deduction of $6k for seniors sixty five+ and only earning underneath $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I receive a compact pension as well as my social security regular. I have website a small financial commitment account. If I pull cash out, it leads to my profits to pass the cash flow Restrict and my SSI is taxed. Will this still be the case?
July ten, 2025 six:24PM How is any person imagined to rely on this Administration’s postings when they are essentially biased and downright deceptive? Like others publishing on right here, This is certainly nothing but gaslighting and fanfare. The information espoused are spurious to state the the very least.
The details? The freshly signed law is projected to additional to weaken the Social Protection method and its earnings. The SSA’s statement can be a blatant lie and falsely misrepresents the bill which was signed into law, as well as its harm to retirees.
Folks declaring social security Positive aspects who will be under 65 or earlier mentioned All those earning thresholds will see no tax profit.