The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it gets rid of federal income taxes on most retirees’ Gains.
It does so by offering an Increased deduction for taxpayers aged sixty five and older, ensuring that retirees can continue to keep much more of whatever they acquired.
Social Safety continues to be devoted to offering timely, precise data to the general public and will proceed Operating intently with federal partners to guarantee beneficiaries know how this legislation might have an affect on them.
For that reason, the extra $6000 deduction and no taxes on SS means Completely nothing to us. We're working with the upper charges but have gained almost nothing Together with the passage of the BBB.
July 12, 2025 3:20PM So mainly, due to the fact I’m 43 and acquire SSDI this Monthly bill changes practically nothing for me While I labored Extended Challenging hours to make the very little little bit of money which i do get… simply because among my partner and I, we do make less than $150k a year, but still more than enough that part of mine is considered “taxable “
July 11, 2025 two:45PM I've recognized a variance in the best way information and facts is introduced by SSA. I see no unique information on how this impacts me for the long term. I am 73 now and would like to see our benefits not taxed. Nonetheless, it’s a “I’ll consider it Once i see it” post.
The brand new law includes a provision that gets rid of federal income taxes on Social Stability benefits for most beneficiaries, offering reduction to folks and partners.
The bill makes certain that nearly 90% of Social Stability beneficiaries will now not pay federal money taxes on their own Gains, furnishing significant and rapid reduction to seniors who've put in a life time contributing to our nation’s economic system.
By considerably cutting down the tax load on Gains, this legislation reaffirms President Trump’s guarantee to guard Social Protection and assists make sure that seniors can much better benefit from the retirement they’ve acquired.”
July 13, 2025 six:13PM In the event you and/or your wife or husband worked hard for many years and the government took deductions for SS then Indeed, a citizen deserves the payments they promised you in retirement. Way too poor that so many citizens video game the more info technique and consider in excess of they should be entitled to obtain.
July twelve, 2025 eight:50PM You might be one that can advantage. Check with your tax man or woman- but as I comprehend it, you can submit a whole new withholding form to obtain less taken out OR you can assert the $6k at tax time. I’m not a professional but that’s how I examine it.
There is not any modify while in the taxability of social security Advantages. The Monthly bill only provides A brief reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a little pension along check here with my social safety month-to-month. I've a small investment account. If I pull revenue out, it triggers my money to pass the cash flow limit and my SSI is taxed. Will this however be the situation?
July 10, 2025 6:24PM How is everyone imagined to believe in this Administration’s postings when they are fundamentally biased and downright misleading? Like Other folks publishing on right here, This is often almost nothing but gaslighting and fanfare. The information espoused are spurious to say the least.
The info? The recently signed legislation is projected to even more to weaken the Social Safety software and its income. The SSA’s statement is often a blatant lie and falsely misrepresents the bill that was signed into regulation, in addition to its more info harm to retirees.
People today claiming social protection Rewards who're below 65 or above those earning thresholds will see no tax reward.