The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it eliminates federal money taxes on most retirees’ benefits.
It does so by delivering an enhanced deduction for taxpayers aged sixty five and older, ensuring that retirees can maintain additional of the things they attained.
Social Stability remains devoted to furnishing timely, exact information and facts to the general public and will proceed Performing intently with federal associates to be sure beneficiaries know how this laws may perhaps affect them.
Hence, the additional $6000 deduction and no taxes on SS usually means Totally nothing at all to us. We've been coping with the upper expenditures but have acquired nothing Using the passage from the BBB.
July 12, 2025 3:20PM So fundamentally, due to the fact I’m 43 and acquire SSDI this Invoice modifications very little for me Though I worked Prolonged Really hard hours to get paid the minimal little bit of cash that I do get… because between my husband and I, we do make beneath $150k a 12 months, but still adequate that Component of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've observed a difference in the way in which details is presented by SSA. I see no precise information on how this influences me for the long run. I'm 73 now and would love to see our benefits not taxed. Nonetheless, it’s a “I’ll believe it when I see it” post.
The new legislation includes a provision that eliminates federal revenue taxes on Social Protection Rewards for many beneficiaries, delivering reduction to people and partners.
The Invoice ensures that virtually 90% of Social Stability beneficiaries will no more fork out federal earnings taxes on their own benefits, supplying significant and fast relief to seniors who may have spent a life span contributing to our nation’s economy.
By considerably reducing the tax load on Advantages, this legislation reaffirms President Trump’s assure to safeguard Social Stability and will help be certain that seniors can much better benefit from the retirement they’ve earned.”
July thirteen, 2025 six:13PM In case you and/or your wife or husband worked really hard for decades and the government took deductions for SS then Certainly, a citizen warrants the payments they promised you in retirement. Far too bad that a great number of citizens game the technique and just take a lot more than they must be entitled to acquire.
July 12, 2025 eight:50PM You are one that should advantage. Speak to your tax individual- but as I understand it, you could submit a whole new withholding kind to own less taken out OR you could declare the $6k at tax time. I’m not an expert but that’s how I browse it.
There is not any adjust during the taxability of social protection Added benefits. The bill only offers a temporary reward deduction of $6k for seniors 65+ and only check here earning below $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I receive a modest pension coupled with my social security regular. I've a little expenditure account. If I pull read more revenue out, it triggers my money to pass the profits Restrict and my SSI is taxed. Will this nonetheless be the case?
July 10, 2025 6:24PM How is any one purported to have confidence in this Administration’s postings when they're basically biased and downright misleading? Like Other folks putting up on in this article, This is often practically nothing but gaslighting and fanfare. The facts espoused are spurious to say the least.
The details? The newly signed regulation is projected to further more to weaken the Social Stability method and its profits. The SSA’s statement is often a blatant lie and falsely misrepresents the Invoice that was signed into legislation, along with its hurt to retirees.
People boasting social protection Advantages who are under 65 or previously mentioned All those earning thresholds will see no tax benefit.