The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it removes federal money taxes on most retirees’ Added benefits.
It does so by supplying an Improved deduction for taxpayers aged 65 and older, making sure that retirees can maintain much more of whatever they earned.
Social Security continues to be committed to giving timely, accurate info to the public and may go on Doing the job carefully with federal partners to make certain beneficiaries understand how this laws may possibly affect them.
Consequently, the additional $6000 deduction and no taxes on SS indicates Certainly nothing at all to us. We have been handling the upper charges but have acquired absolutely nothing Using the passage of your BBB.
July 12, 2025 three:20PM So fundamentally, because I’m 43 and get SSDI this bill alterations nothing at all for me Although I labored LONG Tough several hours to get paid the minimal bit of money that I do get… for the reason that among my spouse And that i, we do make less than $150k a yr, but nevertheless plenty of that Element of mine is considered “taxable “
July 11, 2025 2:45PM I've discovered a change in the way in which data is offered by SSA. I see no specific information on how this impacts me for the long term. I'm seventy three now and would like to see our Gains not taxed. However, it’s a “I’ll think it when I see it” post.
The new law includes a provision that eliminates federal earnings taxes on Social Security benefits for most beneficiaries, furnishing reduction to folks and couples.
The bill ensures that approximately ninety% of Social Safety beneficiaries will no longer pay back federal income taxes on their Rewards, furnishing significant and rapid reduction to seniors that have invested a life span contributing to our nation’s economy.
By read more considerably reducing the tax load on Advantages, this laws reaffirms President Trump’s assure to guard Social Security and will help make certain that seniors can much better take pleasure in the retirement they’ve attained.”
July thirteen, 2025 six:13PM When you and/or your spouse worked hard for decades and The federal government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Way too lousy that countless citizens game the technique and take a lot more than they must be entitled to obtain.
July twelve, 2025 eight:50PM You are one particular which will gain. Talk to your tax man or woman- but as I are aware of it, you could post a brand new withholding type to obtain fewer taken out OR you can claim the $6k at read more tax time. I’m not an expert but that’s how I browse it.
There is not any change within the taxability of website social security Advantages. The bill only gives a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I receive a small pension along with my social stability every month. I have a little financial investment account. If I pull dollars out, it brings about my cash flow to pass the money limit and my SSI is taxed. Will this nonetheless be the situation?
July 10, 2025 six:24PM How is anybody imagined to belief this Administration’s postings when they are fundamentally biased and downright deceptive? Like Other people publishing on listed here, this is nothing but gaslighting and fanfare. The points espoused are spurious to say the the very least.
The details? The recently signed regulation is projected to more to weaken the Social Stability system and its profits. The SSA’s statement is usually a blatant lie and falsely misrepresents the bill that was signed into legislation, and its damage to retirees.
People today declaring social protection Gains who are below 65 or earlier mentioned those earning thresholds will see no tax benefit.