The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it gets rid of federal money taxes on most retirees’ Positive aspects.
It does so by giving an enhanced deduction for taxpayers aged 65 and older, guaranteeing that retirees can retain far more of whatever they gained.
Social Safety stays dedicated to offering timely, exact information and facts to the public and may keep on Performing intently with federal partners to be sure beneficiaries know how this legislation may perhaps affect them.
For that reason, the extra $6000 deduction and no taxes on SS suggests Totally absolutely nothing to us. We're handling the upper costs but have received very little Using the passage in the BBB.
July twelve, 2025 three:20PM So generally, since I’m forty three and obtain SSDI this Invoice adjustments nothing at all for me While I labored Very long Tricky hrs to get paid the little bit of cash which i do get… simply because amongst my husband And that i, we do make below $150k a year, but nevertheless ample that Component of mine is considered “taxable “
July eleven, 2025 2:45PM I've discovered a variation in the way facts is offered by SSA. I see no specific details on how this influences me for the long term. I am 73 now and would like to see our Rewards not taxed. Nonetheless, it’s a “I’ll think it when I see it” posting.
The new law features a provision that removes federal cash flow taxes on Social Safety Gains for many beneficiaries, supplying reduction to people today and partners.
The bill makes certain that virtually ninety% of Social Stability beneficiaries will not fork out federal profits taxes on their Rewards, supplying significant and instant relief to seniors who may have put in click here a life time contributing to check here our country’s economy.
By noticeably lowering the tax load on Rewards, this legislation reaffirms President Trump’s guarantee to shield Social Stability and will help be certain that seniors can better enjoy the retirement they’ve gained.”
July 13, 2025 six:13PM In the event you and/or your husband or wife labored really hard for many years and The federal government took deductions for SS then Indeed, a citizen deserves the payments they promised you in retirement. Far too poor that so many citizens game the system and take over they ought to be entitled to obtain.
July 12, 2025 eight:50PM That you are 1 that will advantage. Speak to your tax person- but as I are aware of it, you'll be able to submit a different withholding kind to get significantly less taken out OR you can declare the $6k at tax time. I’m not an expert but that’s how I browse it.
There is not any alter from the taxability of social security Gains. The Invoice only provides A brief reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if Solitary or $150k if married.
July fifteen, 2025 8:04AM I receive a little pension along with click here my social protection month to month. I've a small financial investment account. If I pull funds out, it causes my money to move the cash flow Restrict and my SSI is taxed. Will this nonetheless be the situation?
July 10, 2025 six:24PM How is anybody speculated to have confidence in this Administration’s postings when they're basically biased and downright deceptive? Like others publishing on here, This is certainly very little but gaslighting and fanfare. The specifics espoused are spurious to say the least.
The details? The recently signed regulation is projected to further more to weaken the Social Safety software and its profits. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice which was signed into regulation, in addition to its harm to retirees.
Folks claiming social stability benefits who are underneath 65 or earlier mentioned Those people earning thresholds will see no tax benefit.