The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely boasting it eradicates federal income taxes on most retirees’ Gains.
It does so by supplying an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can continue to keep more of whatever they gained.
Social Protection stays committed to offering timely, exact facts to the general public and will proceed Performing closely with federal associates to be certain beneficiaries know how this laws may perhaps affect them.
For that reason, the additional $6000 deduction and no taxes on SS usually means Completely practically nothing to us. We're dealing with the upper costs but have gained absolutely nothing While using the passage in the BBB.
July twelve, 2025 3:20PM So essentially, simply because I’m 43 and acquire SSDI this Invoice changes nothing for me Though I worked Extensive Tough hours to earn the tiny little bit of cash which i do get… because in between my spouse and I, we do make underneath $150k a year, but still more than enough that Component of mine is considered “taxable “
July 11, 2025 2:45PM I have observed a variance in how information and facts is introduced by SSA. I see no unique info on how this has an effect on me for the long term. I'm seventy three now and would like to see our Added benefits not taxed. On the other hand, it’s a “I’ll imagine it After i see it” posting.
The brand new legislation includes a provision that removes federal cash flow taxes on Social Protection Added benefits for the majority of beneficiaries, giving reduction to men and women and couples.
The bill ensures that approximately 90% of Social Safety beneficiaries will not pay back federal money taxes on their own Rewards, supplying significant and rapid relief to seniors who have used a life time contributing to our country’s economic climate.
By significantly lessening the tax load on Rewards, this laws reaffirms President Trump’s guarantee to protect Social Safety and assists ensure that seniors can greater enjoy the retirement they’ve acquired.”
July 13, 2025 six:13PM When you and/or your husband or wife labored tough for many years and The federal government took deductions for SS then Certainly, a citizen warrants the payments they promised you in retirement. As well lousy that a lot of citizens game the method and just take over they ought to be entitled to acquire.
July 12, 2025 8:50PM That you are a single that will benefit. Speak with your tax man or woman- but as I realize it, you'll be able to submit a different withholding form to possess significantly less taken out OR you'll be get more info able to declare the $6k at tax time. I’m not an authority but that’s how I examine it.
There is not any modify inside the taxability of social safety Rewards. The Monthly bill only presents A short lived bonus deduction of $6k for seniors 65+ and only earning below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I get a little pension check here in addition to my social protection regular. I have a little financial commitment account. If I pull dollars out, it causes my revenue to go the money Restrict and my SSI is taxed. Will this continue to be the situation?
July ten, 2025 six:24PM How is any individual supposed to have faith in this Administration’s postings when they're fundamentally biased and downright misleading? Like Other individuals submitting on in this article, This is often absolutely nothing but gaslighting and fanfare. The details espoused are spurious to state the minimum.
The specifics? The recently signed law is projected to additional to weaken the Social Stability plan and its revenue. The SSA’s assertion is actually a blatant lie and falsely misrepresents the Invoice which was signed into legislation, and also its harm to retirees.
People proclaiming social stability benefits who are less than sixty five or higher than These earning thresholds will see no tax advantage.