The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it eliminates federal money taxes on most retirees’ Added benefits.
It does so by offering an Increased deduction for taxpayers aged sixty five and older, ensuring that retirees can keep extra of the things they gained.
Social Stability stays committed to providing timely, accurate facts to the public and may continue on working carefully with federal companions to make certain beneficiaries understand how this legislation might have an effect on them.
Hence, the additional $6000 deduction and no taxes on SS indicates Completely very little to us. We are managing the upper prices but have acquired absolutely nothing with the passage with the BBB.
July 12, 2025 3:20PM So mainly, for the reason that I’m 43 and receive SSDI this Invoice alterations very little for me Though I labored Extended Difficult several hours to receive the tiny bit of money that I do get… mainly because amongst my spouse and I, we do make underneath $150k a calendar year, but nonetheless plenty of that Component of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've noticed a difference in how facts is offered by SSA. I see no specific information on how this affects me for the long run. I am 73 now and would love to see our Advantages not taxed. However, it’s a “I’ll consider it when I see it” post.
The new regulation includes a provision that eradicates federal revenue taxes on Social Stability Advantages for some beneficiaries, delivering relief to individuals and partners.
The Invoice makes certain that approximately 90% of Social Stability beneficiaries will not shell out federal cash flow taxes on their own benefits, giving significant and instant relief to seniors who've spent a lifetime contributing to our nation’s economic climate.
By appreciably decreasing the tax burden on Advantages, this laws reaffirms President Trump’s assure to guard Social Stability and assists be certain that seniors can far better benefit from the retirement they’ve earned.”
July thirteen, 2025 6:13PM In the event you and/or your partner labored tough for decades and the government took deductions for SS then Of course, a citizen justifies the payments they promised you in retirement. Much too negative that so many citizens game the system and choose a lot more than they should be entitled to get.
July 12, 2025 eight:50PM You happen to be 1 that may gain. Speak with your tax person- but as I know it, you are able to post a whole new withholding type to obtain less taken out OR it is possible to claim the $6k at tax time. I’m not an expert but that’s how I go through it.
There is not any improve from the taxability of social stability Advantages. The Monthly bill only provides A short lived reward deduction of $6k for seniors sixty five+ and only earning down below $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I get a modest pension together with my social locker plugin social protection month to month. I have a little expense account. If I pull dollars out, it triggers my profits to check here move the money limit and my SSI is taxed. Will this nevertheless be the situation?
July 10, 2025 6:24PM How is anyone alleged to trust this Administration’s postings when they're more info basically biased and downright deceptive? Like others submitting on here, This is certainly very little but gaslighting and fanfare. The details espoused are spurious to say the least.
The facts? The recently signed legislation is projected to even more to weaken the Social Protection program and its revenue. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice which was signed into legislation, as well as its harm to retirees.
Persons boasting social security Positive aspects who are below sixty five or previously mentioned These earning thresholds will see no tax profit.