The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely claiming it eliminates federal cash flow taxes on most retirees’ Rewards.
It does so by offering an Increased deduction for taxpayers aged 65 and older, making sure that retirees can hold extra of the things they acquired.
Social Protection remains committed to supplying well timed, precise facts to the general public and can keep on Performing intently with federal partners to ensure beneficiaries know how this legislation might have an effect on them.
For that reason, the additional $6000 deduction and no taxes on SS implies absolutely nothing at all to us. We are handling the higher prices but have acquired practically nothing While using the passage of the BBB.
July twelve, 2025 three:20PM So generally, mainly because I’m 43 and receive SSDI this Invoice changes practically nothing for me Though I worked Very long Tricky hours to receive the very little little bit of money that I do get… because amongst my partner and I, we do make below $150k a yr, but nevertheless ample that Component of mine is considered “taxable “
July 11, 2025 2:45PM I've recognized a difference in just how info is introduced by SSA. I see no precise details on how this impacts me for the long run. I'm seventy three now and would like to see our Gains not taxed. However, it’s a “I’ll think it when I see it” post.
The new legislation includes a provision that gets rid of federal money taxes on Social Protection Advantages for the majority of beneficiaries, providing relief to persons and partners.
The Invoice makes sure that approximately ninety% of Social Stability beneficiaries will now not spend federal cash flow taxes on their own Advantages, delivering significant and speedy aid to seniors who've spent a life time contributing to our nation’s financial system.
By considerably minimizing the tax load on Positive aspects, this legislation reaffirms President Trump’s assure to guard Social Stability and aids make certain that seniors can much better take pleasure in the retirement they’ve attained.”
July thirteen, 2025 6:13PM For those who and/or your partner labored tricky for many years and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. As well undesirable that lots of citizens video game the program and get over they ought to be entitled to get.
July twelve, 2025 eight:50PM You happen to be a single which will profit. Talk to your tax particular person- but as I know it, you'll be website able to submit a new withholding form to get less taken out OR you'll be able to claim the $6k at tax time. I’m not a specialist but that’s how I go through it.
There is not any improve within the taxability of social security Positive aspects. The Monthly bill only provides a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.
July 15, 2025 eight:04AM I get a little pension together with my social security monthly. I have a small investment account. If I pull revenue out, it triggers my money to go the revenue limit and my SSI is taxed. Will this even now be the case?
July ten, 2025 6:24PM How is everyone alleged to believe in get more info this Administration’s postings when they are fundamentally biased and downright deceptive? Like Other people submitting on listed here, That is absolutely nothing but gaslighting and fanfare. The info espoused are spurious to mention the least.
The details? The newly signed legislation is projected to further more to weaken the Social Protection system and its income. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice which was signed into law, in addition to its harm to retirees.
People boasting social stability benefits who will be beneath sixty five or previously mentioned People earning thresholds will see no tax advantage.