The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it removes federal earnings taxes on most retirees’ Rewards.
It does so by providing an Improved deduction for taxpayers aged sixty five and older, guaranteeing that retirees can maintain a lot more of the things they gained.
Social Safety stays devoted to furnishing timely, correct facts to the general public and may continue Operating intently with federal associates to make certain beneficiaries understand how this legislation may possibly have an impact on them.
Therefore, the additional $6000 deduction and no taxes on SS implies Definitely nothing at all to us. We have been managing the higher expenses but have acquired nothing at all Together with the passage on the BBB.
July twelve, 2025 three:20PM So in essence, due to the fact I’m forty three and obtain SSDI this bill improvements nothing for me even though I worked Extensive Tricky several hours to earn the tiny bit of money which i do get… mainly because concerning my partner And that i, we do make less than $150k a year, but nevertheless enough that part of mine is considered “taxable “
July 11, 2025 2:45PM I've discovered a big difference in the way information and facts is offered by SSA. I see no unique facts on how this has an effect on me for the long term. I am seventy three now and would like to see our Gains not taxed. However, it’s a “I’ll feel it After i see it” short article.
The brand new regulation features a provision that removes federal money taxes on Social Security Gains for most beneficiaries, delivering relief to men and women and partners.
The Monthly bill ensures that virtually ninety% of Social Stability beneficiaries will not shell out federal profits taxes on their own Rewards, delivering significant and instant reduction to seniors who definitely have spent a life span contributing to our country’s economy.
By substantially decreasing the tax stress on benefits, this legislation reaffirms President Trump’s promise to shield Social Protection and helps make sure seniors can far better benefit from the retirement they’ve attained.”
July thirteen, 2025 6:13PM In the event you and/or your wife or husband labored difficult for decades and the government took deductions for SS then Sure, a citizen deserves the payments they promised you in retirement. Too bad that so many citizens activity the procedure and acquire in excess of they ought to be entitled to obtain.
July 12, 2025 eight:50PM You will be just one that may reward. Talk to your tax human being- but as I realize it, you may submit a completely new withholding variety to acquire here considerably less taken out OR you'll be able to declare the $6k at tax time. I’m not an expert but that’s how I read through it.
There's no alter from the taxability of social safety Positive aspects. The bill only provides A short lived reward deduction of $6k for seniors sixty five+ and only earning below $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I receive a tiny pension as well as my social security monthly. I've a small investment decision account. If I pull money out, read more it leads to my profits to pass the cash flow Restrict and my SSI is taxed. Will this however be the case?
July ten, 2025 six:24PM How is everyone designed to have faith in this Administration’s postings when they are basically biased and downright misleading? Like Many others putting up on listed here, This is certainly practically nothing but gaslighting and fanfare. The points espoused are spurious to say the least.
The information? The freshly signed regulation is projected to more to weaken the Social Safety system and its profits. The SSA’s statement is often a blatant lie and falsely misrepresents the Invoice which was signed into regulation, in addition to its harm to retirees.
Individuals proclaiming social stability benefits who will be underneath 65 or higher than Those people earning thresholds will see no tax benefit.