The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely boasting it eliminates federal earnings taxes on most retirees’ benefits.
It does so by delivering an enhanced deduction for taxpayers aged sixty five and more mature, making certain that retirees can continue to keep much more of whatever they earned.
Social Safety stays dedicated to offering well timed, exact information to the public and will go on Operating carefully with federal companions to make certain beneficiaries know how this laws may have an impact on them.
As a result, the additional $6000 deduction and no taxes on SS usually means absolutely very little to us. We've been addressing the upper expenditures but have obtained nothing Using the passage from the BBB.
July 12, 2025 three:20PM So in essence, simply because I’m 43 and receive SSDI this Invoice variations almost nothing for me even though I worked Very long Really hard hrs to generate the minor bit of cash which i do get… mainly because among my husband And that i, we do make below $150k a year, but nonetheless ample that Portion of mine is considered “taxable “
July eleven, 2025 2:45PM I've observed a difference in just how information and facts is offered by SSA. I see no particular knowledge on how this has an effect on me for the long term. I'm seventy three now and would like to see our Rewards not taxed. Nevertheless, it’s a “I’ll feel it After i see it” posting.
The new law features a provision that eradicates federal earnings taxes on Social Security Positive aspects for some read more beneficiaries, furnishing reduction to persons and couples.
The Invoice makes certain that just about 90% of Social Security beneficiaries will no longer shell out federal revenue taxes on their Added benefits, furnishing meaningful and immediate relief to seniors who may have invested a life span contributing to our country’s economic system.
By drastically lowering the tax load on Positive aspects, this legislation reaffirms President Trump’s promise to guard Social Safety and will help ensure that seniors can far better enjoy the retirement they’ve acquired.”
July thirteen, 2025 6:13PM Should you and/or your partner worked tough for many years and The federal government took deductions for SS then Certainly, a citizen warrants the payments they promised you in retirement. Much too poor that a lot of citizens recreation the procedure here and consider over they need to be entitled to receive.
July 12, 2025 8:50PM You're a single that could gain. Discuss with your tax individual- but as I comprehend it, you can post a fresh withholding sort to own significantly less taken out OR you can claim the $6k at tax time. I’m not an expert but that’s how I browse it.
There isn't any transform within the taxability of social stability Advantages. The Invoice only provides A brief reward deduction of $6k for seniors 65+ and only earning underneath $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM read more I receive a smaller pension coupled with my social protection month-to-month. I've a small financial commitment account. If I pull cash out, it results in my profits to go the profits Restrict and my SSI is taxed. Will this even now be the case?
July ten, 2025 6:24PM How is any one designed to believe in this Administration’s postings when they are essentially biased and downright misleading? Like Other people publishing on in this article, This really is very little but gaslighting and fanfare. The details espoused are spurious to state the the very least.
The points? The newly signed law is projected to more to weaken the Social Protection application and its revenue. The SSA’s assertion is really a blatant lie and falsely misrepresents the bill which was signed into law, along with its damage to retirees.
Persons saying social protection Gains that are less than sixty five or over Individuals earning thresholds will see no tax advantage.