The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely professing it gets rid of federal revenue taxes on most retirees’ benefits.
It does so by providing an Increased deduction for taxpayers aged 65 and older, making sure that retirees can continue to keep extra of whatever they attained.
Social Safety remains dedicated to furnishing timely, exact facts to the public and may go on Operating intently with federal companions to be certain beneficiaries know how this laws may have an affect on them.
Hence, the additional $6000 deduction and no taxes on SS indicates Certainly absolutely nothing to us. We've been handling the upper charges but have been given practically nothing Using the passage with the BBB.
July 12, 2025 three:20PM So basically, for the reason that I’m 43 and receive SSDI this Invoice variations absolutely nothing for me even though I labored LONG Tough hrs to gain the small bit of money that I do get… due to the fact between my husband and I, we do make beneath $150k a 12 months, but nevertheless plenty of that A part of mine is considered “taxable “
July 11, 2025 two:45PM I've found a big difference in the best way facts is introduced by SSA. I see no unique knowledge on how this impacts me for the long run. I'm 73 now and would love to see our Added benefits not taxed. Nonetheless, it’s a “I’ll imagine it After i see it” posting.
The brand new regulation features a provision that gets rid of federal income taxes on Social Protection Gains for the majority of beneficiaries, giving relief to people and partners.
The Invoice ensures that nearly ninety% of Social Safety beneficiaries will no longer pay back federal cash flow taxes on their benefits, giving meaningful and speedy reduction to seniors who have expended a lifetime contributing to our nation’s financial system.
By noticeably lessening the tax burden on Gains, this laws reaffirms President Trump’s promise to protect Social Stability and aids make certain that seniors can better benefit from the retirement they’ve gained.”
July 13, 2025 six:13PM Should you and/or your wife or husband worked challenging for many years and the government took deductions for SS then Of course, a citizen deserves the payments they promised you in retirement. Far too poor that countless citizens game the program and acquire more than they need to be entitled to obtain.
July twelve, 2025 eight:50PM That you are a single that should profit. Speak with your tax particular person- but as I know it, you check here can submit a brand new withholding sort to have considerably less taken out OR you could more info claim the $6k at tax time. I’m not a specialist but that’s how I browse it.
There isn't any modify inside the taxability of social safety Rewards. The Invoice only gives A short lived reward deduction of $6k for seniors 65+ and only earning down below $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I receive a tiny pension in addition to my social security month-to-month. I've a small expense account. If I pull cash out, it causes my money to move the earnings Restrict and my SSI is taxed. Will this even now be the case?
July 10, 2025 six:24PM How is any person supposed to belief this Administration’s postings when they are essentially biased and downright misleading? Like Some others posting on below, This can be nothing but gaslighting and fanfare. The info espoused are spurious to convey the least.
The points? The newly signed legislation is projected to further to weaken the Social Safety plan and its income. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Invoice that was signed into legislation, in addition to its damage to retirees.
People proclaiming social security Rewards that are below 65 or higher than These earning thresholds will see no tax advantage.