The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely professing it removes federal revenue taxes on most retirees’ Added benefits.
It does so by supplying an Increased deduction for taxpayers aged sixty five and more mature, making sure that retirees can retain far more of what they attained.
Social Safety continues to be committed to supplying well timed, correct info to the public and will carry on Functioning closely with federal companions to be certain beneficiaries understand how this laws could influence them.
Therefore, the extra $6000 deduction and no taxes on SS indicates Completely nothing at all to us. We're managing the upper prices but have received almost nothing With all the passage from the BBB.
July twelve, 2025 3:20PM So mainly, due to the fact I’m 43 and acquire SSDI this bill modifications practically nothing for me Although I labored Prolonged Difficult hrs to make the small little bit of cash which i do get… for the reason that involving my spouse And that i, we do make less than $150k a year, but nevertheless enough that Portion of mine is considered “taxable “
July 11, 2025 two:45PM I have found a variance in the best way details is presented by SSA. I see no particular information on how this influences me for the long term. I'm seventy three now and would love to see our Rewards not taxed. Nevertheless, it’s a “I’ll consider it Once i see it” post.
The brand new law features a provision that eliminates federal profits taxes on Social Protection benefits for the majority of beneficiaries, furnishing reduction to men and women and partners.
The Invoice ensures that just about 90% of Social Safety beneficiaries will now not pay out federal profits taxes on their Advantages, offering significant and rapid reduction to seniors who have put in a life time contributing to our nation’s economy.
By considerably lessening the tax burden on Added benefits, this legislation reaffirms President Trump’s guarantee to safeguard Social Security and assists be certain that seniors can improved take pleasure in the retirement they’ve attained.”
July 13, 2025 six:13PM For those who and/or your partner worked tough for decades and The federal get more info government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Also undesirable that a lot of citizens video game the process and acquire much more than they must be entitled to acquire.
July twelve, 2025 8:50PM You happen to be just one that could reward. Speak with your tax man or woman- but as I realize it, it is possible to submit a completely new withholding variety to get much social locker plugin for wordpress less taken out OR it is possible to declare the $6k at tax time. I’m not an expert but that’s how I browse it.
There's no alter inside the taxability of social security Advantages. The Monthly bill only gives A short lived bonus deduction of $6k for seniors 65+ and only earning down below $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I receive a modest pension along with my social safety every month. I've a small expense account. If I pull cash out, it results in my money to move the profits Restrict and my SSI is taxed. Will this however be the case?
July 10, 2025 six:24PM How is any one supposed to have faith in this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other individuals putting up on listed here, That is almost nothing but gaslighting and fanfare. The info espoused are spurious to state the least.
The facts? The newly signed legislation is projected to more to weaken the Social Security program and its earnings. The SSA’s statement is often here a blatant lie and falsely misrepresents the Invoice which was signed into regulation, together with its harm to retirees.
People boasting social protection Added benefits who are underneath sixty five or over These earning thresholds will see no tax reward.