The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it gets rid of federal cash flow taxes on most retirees’ Added benefits.
It does so by supplying an Improved deduction for taxpayers aged sixty five and older, ensuring that retirees can preserve a lot more of what they acquired.
Social Safety continues to be committed to furnishing well timed, precise information and facts to the public and may continue on Operating closely with federal partners to make certain beneficiaries know how this legislation may perhaps have an impact on them.
Consequently, the extra $6000 deduction and no taxes on SS suggests Completely nothing to us. We've been coping with the higher fees but have acquired nothing With all the passage of the BBB.
July 12, 2025 three:20PM So generally, because I’m forty three and receive SSDI this Monthly bill variations almost nothing for me While I labored LONG Really hard hours to get paid the tiny bit of money that I do get… due to the fact among my spouse and I, we do make under $150k a year, but nevertheless more than enough that Portion of mine is considered “taxable “
July eleven, 2025 two:45PM I've observed a big difference in the way information and facts is offered by SSA. I see no certain information on how this influences me for the long run. I'm 73 now and would like to see our Positive aspects not taxed. Nevertheless, it’s a “I’ll imagine it After i see it” report.
The new legislation features a provision that removes federal cash flow taxes on Social Protection Positive aspects for most beneficiaries, giving reduction to folks and partners.
The Monthly bill ensures that just about ninety% of Social Stability beneficiaries will no more fork out federal income taxes on their Added benefits, delivering meaningful and fast aid to website seniors who may have spent a lifetime more info contributing to our country’s economic system.
By noticeably decreasing the tax burden on Added benefits, this laws reaffirms President Trump’s promise to safeguard Social Security and helps be sure that seniors can better enjoy the retirement they’ve gained.”
July 13, 2025 6:13PM In case you and/or your husband or wife labored hard for decades and the government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. Too lousy that numerous citizens recreation the program and just take in excess of they ought to be entitled to acquire.
July twelve, 2025 eight:50PM You might be a single that can benefit. Talk to social locker plugin your tax person- but as I understand it, you could post a completely new withholding kind to get much less taken out OR you may claim the $6k at tax time. I’m not an expert but that’s how I read through it.
There's no adjust while in the taxability of social protection Added benefits. The Monthly bill only offers a temporary bonus deduction of $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.
July fifteen, 2025 8:04AM I get a modest pension coupled with my social protection month to month. I have a little investment decision account. If I pull dollars out, it leads to 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 person supposed to rely on this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other individuals publishing on in this article, this is absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to mention the least.
The details? The recently signed law is projected to more to weaken the Social Stability program and its revenue. The SSA’s assertion is often a blatant lie and falsely misrepresents the bill that was signed into law, as well as its hurt to retirees.
Persons proclaiming social security Advantages who are less than 65 or over Those people earning thresholds will see no tax reward.