The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely professing it gets rid of federal income taxes on most retirees’ Gains.
It does so by offering an Improved deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can retain extra of what they attained.
Social Protection stays dedicated to offering well timed, precise information and facts to the general public and can proceed Doing work intently with federal associates to ensure beneficiaries know how this laws may well impact them.
Hence, the additional $6000 deduction and no taxes on SS suggests Certainly nothing at all to us. We have been dealing with the higher charges but have been given practically nothing Along with the passage in the BBB.
July 12, 2025 3:20PM So essentially, mainly because I’m 43 and receive SSDI this bill alterations nothing for me While I worked Prolonged HARD several hours to earn the little little bit of cash which i do get… due to the fact among my husband and I, we do make beneath $150k a yr, but nevertheless adequate that Component of mine is considered “taxable “
July 11, 2025 two:45PM I've found a difference in the best way facts is offered by SSA. I see no precise facts on how this impacts me for the long term. I'm seventy three now and would love to see our benefits not taxed. On the other hand, it’s a “I’ll imagine it After i see it” post.
The brand new legislation features a provision that removes federal profits taxes on Social Protection Added benefits for many beneficiaries, supplying reduction to people and couples.
The Invoice ensures that virtually 90% of Social Safety beneficiaries will no longer shell out federal earnings taxes on their own benefits, offering meaningful and speedy reduction to seniors who've put in a life time contributing to our country’s financial state.
By considerably minimizing the tax social locker plugin burden on Advantages, this laws reaffirms President Trump’s promise to guard Social Protection and will help ensure that seniors can better take pleasure in the retirement they’ve gained.”
July 13, 2025 6:13PM If you and/or your spouse labored tough for decades and The federal government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Too poor that lots of citizens recreation the method and take greater than they must be entitled to acquire.
July 12, 2025 eight:50PM You happen to be one that should benefit. Discuss with your tax person- but as I are aware of it, you'll be able to post a fresh withholding variety to get less taken out OR it is possible to assert the $6k at tax time. I’m not an expert but that’s how I read through it.
There is absolutely no change inside the taxability of social stability benefits. The bill only presents A brief reward deduction of $6k for seniors 65+ and only earning down below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I receive a compact pension in addition to my social security month-to-month. I have a small expenditure account. If I pull dollars out, it leads to my revenue to pass the cash flow Restrict and my SSI is taxed. Will this nevertheless be the case?
July ten, 2025 6:24PM How is anyone supposed to have faith in this Administration’s postings when they're essentially biased and downright misleading? Like Many others posting on in this article, That is practically nothing but gaslighting and fanfare. The specifics espoused are spurious to say the minimum.
The information? The newly signed legislation is projected to additional to weaken click here the Social Stability software and its revenue. The SSA’s statement is a blatant lie and falsely misrepresents the get more info Invoice which was signed into legislation, together with its hurt to retirees.
Folks proclaiming social protection Rewards who are underneath 65 or higher than All those earning thresholds will see no tax benefit.