The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely declaring it eliminates federal revenue taxes on most retirees’ benefits.
It does so by offering an enhanced deduction for taxpayers aged 65 and more mature, making sure that retirees can preserve additional of what they acquired.
Social Security remains dedicated to delivering timely, precise info to the general public and may carry on Doing the job closely with federal associates to be certain beneficiaries know how this legislation may have an impact on them.
For that reason, the additional $6000 deduction and no taxes on SS means Definitely almost nothing to us. We've been addressing the upper fees but have obtained absolutely nothing While using the passage on the BBB.
July 12, 2025 3:20PM So in essence, mainly because I’m 43 and obtain SSDI this Invoice improvements nothing for me While I labored Lengthy Difficult several hours to earn the small bit of money that I do get… due to the fact involving my spouse and I, we do make beneath $150k a 12 months, but still adequate that A part of mine is considered “taxable “
July 11, 2025 2:45PM I have discovered a change in just how information and facts is introduced by SSA. I see no certain info on how this influences me for the long term. I'm seventy three now and would love to see our Advantages not taxed. Having said that, it’s a “I’ll believe it After i see it” post.
The brand new law features a provision that gets rid of federal earnings taxes on Social Protection benefits for the majority of beneficiaries, delivering aid to people and partners.
The Monthly bill ensures that just about ninety% of Social Safety beneficiaries will no more shell out federal earnings taxes on their Gains, furnishing meaningful and quick aid to seniors that have spent a lifetime contributing to our country’s economic climate.
By significantly reducing the tax stress on Added benefits, this laws reaffirms President Trump’s guarantee to guard Social Stability and assists ensure that seniors can better take pleasure in the retirement they’ve gained.”
July thirteen, 2025 6:13PM If you and/or your spouse labored tricky for decades and The federal government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Also bad that lots of citizens activity the technique and acquire over they need click here to be entitled to get.
July 12, 2025 8:50PM You're a person that will reward. Talk with your tax particular person- but as I are aware of it, you'll be able to post a brand new withholding variety to possess considerably less taken out OR you can assert the $6k at tax time. I’m not a specialist but that’s how I study it.
There is no modify inside the taxability of social stability Positive aspects. The bill only presents a temporary bonus deduction of $6k for seniors 65+ and only earning under $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a little pension along with my social protection month-to-month. I've a small expense account. If I pull money out, it causes my money to move the check here revenue limit and my SSI is taxed. Will this nevertheless be the case?
July 10, 2025 6:24PM How is any person purported to have confidence in this Administration’s postings when they're basically biased and downright misleading? Like Some others posting on below, That is here absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to convey the the very least.
The points? The newly signed legislation is projected to even more to weaken the Social Security application and its revenue. The SSA’s assertion is actually a blatant lie and falsely misrepresents the Invoice that was signed into regulation, in addition to its damage to retirees.
Persons boasting social protection Advantages that are under 65 or higher than Those people earning thresholds will see no tax reward.