The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it eliminates federal revenue taxes on most retirees’ Advantages.
It does so by delivering an enhanced deduction for taxpayers aged 65 and more mature, ensuring that retirees can continue to keep far more of what they gained.
Social Safety continues to be committed to furnishing well timed, precise details to the public and can proceed Operating carefully with federal partners to be certain beneficiaries understand how this legislation might have an effect on them.
As a result, the extra $6000 deduction and no taxes on SS indicates Totally almost nothing to us. We have been managing the upper expenditures but have gained nothing with the passage on the BBB.
July twelve, 2025 3:20PM So mainly, for the reason that I’m forty three and get SSDI this Invoice adjustments very little for me Despite the fact that I worked Very long HARD several hours to gain the tiny bit of money which i do get… simply because concerning my partner and I, we do make underneath $150k a yr, but nevertheless enough that Portion of mine is taken into account “taxable “
July eleven, 2025 two:45PM I've seen a difference in just how information and facts is presented by SSA. I see no unique info on how this has an effect on me for the long run. I'm seventy three now and would love to see our Gains not taxed. Having said that, it’s a “I’ll consider it After i see it” report.
The new legislation features a provision that eliminates federal revenue taxes on Social Stability Rewards for the majority of beneficiaries, supplying reduction to people and couples.
The bill makes sure that nearly ninety% of Social Protection beneficiaries will no longer fork out federal cash flow taxes on their Advantages, supplying significant and speedy relief to seniors who may have expended a life span contributing to our nation’s economy.
By drastically reducing the tax stress on benefits, this laws reaffirms President Trump’s assure to shield Social Stability and helps make sure that seniors can much better enjoy the retirement they’ve attained.”
July thirteen, 2025 six:13PM When you and/or your wife or husband labored tricky for decades and the government took deductions for SS then YES, a citizen deserves the payments they promised you in retirement. Far too bad that a great number of citizens recreation the procedure and consider in excess of they should be entitled to get.
July 12, 2025 eight:50PM You will be one that can advantage. Speak with your tax individual- but as I comprehend it, you'll be able to post a different withholding kind to possess significantly less taken out OR you can declare the $6k at tax time. I’m not an authority but that’s how I examine it.
There isn't a alter during the taxability of social safety benefits. The Monthly bill only offers A brief reward deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I receive a smaller pension along with my social protection month to month. I've a small expenditure account. If I pull income out, it brings about my revenue to move the revenue Restrict and my SSI is taxed. Will this nevertheless be the case?
July ten, 2025 six:24PM How is everyone designed to have click here faith in this Administration’s click here postings when they're essentially biased and downright deceptive? Like others submitting on in this article, this is practically nothing but gaslighting and fanfare. The information espoused are spurious to say the minimum.
The info? The freshly signed regulation is projected to further to weaken the Social Safety software and its profits. The SSA’s statement is really a blatant lie and falsely misrepresents the Invoice that was signed into law, together with its hurt to retirees.
People declaring social safety Added benefits who're below sixty five or earlier mentioned People earning thresholds will see no tax profit.