The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely claiming it eradicates federal revenue 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 maintain far more of whatever they earned.
Social Safety remains devoted to delivering well timed, exact info to the general public and will go on Functioning closely with federal associates to make sure beneficiaries know how this legislation may possibly influence them.
Therefore, the extra $6000 deduction and no taxes on SS signifies Definitely nothing at all to us. We've been dealing with the higher charges but have been given nothing with the passage from the BBB.
July 12, 2025 three:20PM So in essence, for the reason that I’m forty three and obtain SSDI this bill changes nothing for me Although I labored Lengthy Tough hrs to receive the minor bit of cash which i do get… because amongst my husband And that i, we do make below $150k a calendar year, but nevertheless ample that part of mine is taken into account “taxable “
July 11, 2025 two:45PM I have found a variation in the way in which details is introduced by SSA. I see no certain data on how this affects me for the long term. I am seventy three now and would love to see our Added benefits not taxed. Nonetheless, it’s a “I’ll believe it Once i see it” posting.
The new legislation features a provision that eliminates federal profits taxes on Social Safety benefits for the majority of beneficiaries, providing reduction to individuals and couples.
The Monthly bill ensures that almost ninety% of Social Security beneficiaries will no more pay federal money taxes on their own Positive aspects, giving meaningful and speedy relief to seniors who definitely have spent a lifetime contributing to our country’s economic system.
By noticeably reducing the tax burden on Added benefits, this laws reaffirms President Trump’s assure to protect Social Safety and assists make certain that seniors can superior take pleasure in the retirement they’ve gained.”
July 13, 2025 6:13PM In the event you and/or your spouse labored hard for here many years and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Much too bad that a lot of citizens game the system and take greater than they must be entitled to acquire.
July 12, 2025 eight:50PM That you are just one that may gain. Speak with your tax particular person- but as I comprehend it, you can post a fresh withholding type to obtain significantly less taken out OR you'll be able to assert the $6k at tax time. I’m not an authority read more but that’s how I read it.
There is not any transform inside the taxability of social stability Positive aspects. The bill only offers a temporary reward deduction of $6k for seniors 65+ and only earning underneath $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I get a smaller pension in conjunction with my social stability every month. I have a little investment decision account. If I pull revenue out, it leads to my profits to go the earnings limit and my SSI is taxed. Will this continue to be the case?
July ten, 2025 six:24PM How is anyone designed to believe in this Administration’s postings when they are basically biased and downright deceptive? Like Many others publishing on listed here, This is certainly nothing but gaslighting and fanfare. The information espoused are spurious to state the the very least.
The details? The newly signed law is projected to more to weaken the Social Safety system and its profits. The SSA’s assertion can be a blatant lie and falsely misrepresents the Monthly bill which was signed into law, as well as its damage to retirees.
Folks professing social protection Added benefits who will be less than sixty five or higher than All those earning thresholds will see no tax profit.