The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely saying it removes federal income taxes on most retirees’ Rewards.
It does so by giving an Improved deduction for taxpayers aged 65 and more mature, making certain that retirees can keep additional of what they acquired.
Social Security continues to be dedicated to giving timely, precise info to the public and can go on Functioning carefully with federal companions to be certain beneficiaries know how this laws might have an impact on them.
Therefore, the additional $6000 deduction and no taxes on SS indicates Unquestionably almost nothing to us. We have been managing the higher fees but have been given very little Using the passage from the BBB.
July 12, 2025 3:20PM So essentially, since I’m 43 and obtain SSDI this bill modifications very little for me even though I labored Prolonged HARD several hours to earn the minimal bit of cash that I do get… for the reason that concerning my partner and I, we do make under $150k a year, but still ample that Section of mine is considered “taxable “
July eleven, 2025 2:45PM I have observed a difference in the way in which facts is introduced by SSA. I see no certain data on how this has an effect on me for the long term. I am 73 now and would love to see our Added benefits not taxed. Nonetheless, it’s a “I’ll feel it when I see it” report.
The brand new regulation includes a provision that eliminates federal money taxes on Social Safety Advantages for the majority of beneficiaries, offering reduction to people and couples.
The bill ensures that virtually ninety% of Social Stability beneficiaries will not fork out website federal cash flow taxes on their own Gains, supplying significant and rapid aid to seniors who've expended a life span contributing to our country’s economic system.
By appreciably reducing the tax burden on Rewards, this legislation reaffirms President Trump’s promise to guard Social Safety and will help make sure seniors can better enjoy the retirement they’ve attained.”
July 13, 2025 six:13PM If you and/or your spouse worked challenging for decades and the government took deductions for SS then Of course, a citizen deserves the payments they promised you in retirement. As well poor that a great number of citizens recreation the procedure and get in excess of they need to be entitled to acquire.
July 12, 2025 8:50PM You are just one that may benefit. Check with your tax person- but as I understand it, it is possible to submit a completely new withholding type to obtain significantly less taken out OR you are able to claim the $6k at tax time. I’m not a professional but that’s how I study it.
There is absolutely no modify in the taxability of social stability Positive aspects. The bill only offers a temporary reward deduction of $6k for seniors 65+ and only earning below $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a small pension along with my social stability month to month. I have a little investment account. If I pull funds out, it will cause my cash flow to go the revenue Restrict and my SSI is taxed. Will this continue to be the case?
July 10, 2025 six:24PM How is anyone alleged to belief this Administration’s postings when they are basically biased and downright deceptive? Like Other people posting on below, This is certainly very little but gaslighting and fanfare. The specifics espoused are spurious to mention the the very least.
The facts? The freshly signed legislation is projected to more to weaken the Social Protection software and its earnings. social locker plugin The SSA’s statement is actually a blatant lie and falsely misrepresents the bill which was signed into legislation, as well as its harm to retirees.
Folks boasting social stability Advantages who're below 65 or read more above those earning thresholds will see no tax advantage.