The Social Safety Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely proclaiming it eliminates federal earnings taxes on most retirees’ Positive aspects.
It does so by providing an Improved deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can maintain a lot more of the things they attained.
Social Safety continues to be dedicated to providing well timed, precise information and facts to the public and may continue Operating carefully with federal partners to ensure beneficiaries know how this laws may possibly affect them.
Hence, the additional $6000 deduction and no taxes on SS suggests Unquestionably nothing to us. We are working with the upper expenditures but have been given nothing at all with the passage in the BBB.
July 12, 2025 3:20PM So fundamentally, due to the fact I’m 43 and acquire SSDI this bill adjustments almost nothing for me Although I labored Prolonged Really hard hours to make the minor bit of money which i do get… since between my spouse And that i, we do make under $150k a year, but nonetheless sufficient that part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I have found a variation in the best way data is introduced by SSA. I see no distinct details on how this affects me for the long term. I am seventy three now and would like to see our Rewards not taxed. Nevertheless, it’s a “I’ll believe it when I see it” report.
The brand new law features a provision that eliminates federal profits taxes on Social Security Gains for some beneficiaries, giving aid to people today and couples.
The bill makes sure that approximately ninety% of Social Protection beneficiaries will no more pay out federal income taxes on their Added benefits, delivering meaningful and quick aid to seniors who have put in a life time contributing to our country’s economic climate.
By considerably decreasing the tax burden on Gains, this laws reaffirms President Trump’s assure to guard Social Security and will help make sure that seniors can better take pleasure in the retirement they’ve acquired.”
July thirteen, 2025 6:13PM When you and/or your spouse labored hard for many years and The federal government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. As well terrible that numerous citizens sport the method and take over they ought to be entitled to acquire.
July 12, 2025 8:50PM You happen to be 1 that will advantage. Speak to your tax individual- but as I know it, you can submit a new withholding sort to get fewer taken out OR you can assert the $6k at tax time. I’m not an authority but that’s how I read it.
There is no transform inside the taxability of social protection Gains. The Invoice only offers a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if One or $150k if social locker plugin married.
July fifteen, 2025 8:04AM I receive a compact pension as well as my social safety every month. I have a small financial investment account. If I pull funds out, it will cause my money to pass the money Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 six:24PM How is any person designed to belief this Administration’s postings when they are basically biased and downright deceptive? Like others posting on in this article, This is certainly nothing but gaslighting and fanfare. The facts espoused are spurious to say the minimum.
The information? The recently signed regulation is projected to even further to weaken the Social Protection plan and its income. The SSA’s statement can be a blatant lie and falsely misrepresents the bill that get more info was signed into legislation, as well as its hurt to retirees.
Persons declaring social stability Rewards who are underneath 65 or previously mentioned those earning thresholds will see no tax advantage.