The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it gets rid of federal profits taxes on most retirees’ Gains.
It does so by offering an enhanced deduction for taxpayers aged sixty five and older, ensuring that retirees can keep much more of the things they acquired.
Social Safety stays committed to providing well timed, precise information to the general public and can go on Functioning carefully with federal associates to be sure beneficiaries understand how this legislation may affect them.
For that reason, the extra $6000 deduction and no taxes on SS usually means absolutely practically nothing to us. We've been handling the higher charges but have obtained nothing at all Along with the passage in the BBB.
July twelve, 2025 three:20PM So basically, due to the fact I’m 43 and acquire SSDI this bill improvements almost nothing for me While I labored Extensive Really hard several hours to generate the little little bit of cash which i do get… mainly because amongst my husband And that i, we do make beneath $150k a calendar year, but still adequate that Element of mine is considered “taxable “
July eleven, 2025 2:45PM I have noticed a big difference in the best way data is introduced by SSA. I see no unique knowledge on how this impacts me for the long term. I'm seventy three now and would love to see our benefits not taxed. Having said that, it’s a “I’ll consider it when I see it” report.
The new regulation features a provision that removes federal cash flow taxes on Social Protection Advantages for some beneficiaries, supplying relief to men and women and couples.
The Monthly bill makes certain that approximately 90% of Social Safety beneficiaries will no longer pay out federal income taxes on their Rewards, giving significant and instant reduction to seniors which have put in a life time contributing to our nation’s economy.
By considerably minimizing the tax stress on Rewards, this legislation reaffirms President Trump’s assure to safeguard Social Protection and allows make sure that seniors can far better take pleasure in the retirement they’ve earned.”
July 13, 2025 6:13PM For those who and/or your partner worked tough for decades and The federal government took deductions for SS then Certainly, a citizen deserves the payments they promised website you in retirement. Much too undesirable that countless citizens recreation the method and acquire over they should be entitled to acquire.
July twelve, 2025 8:50PM That you are a person that can advantage. Talk to your tax individual- but as I are aware of it, you may submit a brand new withholding variety to have less taken out OR it is possible to assert the $6k at tax time. I’m not a specialist but that’s how I study it.
There isn't any transform within the taxability of social security Gains. The Monthly bill only gives A brief bonus deduction of $6k for seniors 65+ and only earning down below $75k if One or $150k if married.
July 15, 2025 8:04AM I check here receive a compact pension in addition to my social stability regular. I've a little investment decision account. If I pull dollars out, it triggers my income to pass the cash flow Restrict and my SSI is taxed. Will this still be the situation?
July ten, 2025 six:24PM How is any person speculated to have faith in this Administration’s postings when they're basically biased and downright deceptive? Like Many others posting on right here, This really is very little but gaslighting and fanfare. The facts espoused are spurious to say the the very least.
The details? The newly signed law is projected to further to weaken the Social Security system and its earnings. The SSA’s statement is actually a blatant lie and falsely misrepresents the Monthly bill which was signed into law, as well as its damage to retirees.
Folks proclaiming social stability Advantages who are less than 65 or above People earning thresholds will see no tax reward.