The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it removes federal cash flow taxes on most retirees’ Added benefits.
It does so by supplying an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can retain much more of whatever they acquired.
Social Safety remains dedicated to offering timely, accurate information to the general public and can continue Performing carefully with federal associates to be certain beneficiaries know how this legislation may have an impact on them.
Consequently, the additional $6000 deduction and no taxes on SS usually means Unquestionably absolutely nothing to us. We have been dealing with the higher prices but have obtained nothing at all with the passage on the BBB.
July 12, 2025 3:20PM So generally, since I’m 43 and get SSDI this Invoice changes practically nothing for me Despite the fact that I labored LONG Tricky hours to receive the small bit of money which i do get… for the reason that among my spouse And that i, we do make underneath $150k a calendar year, but nevertheless sufficient that Element of mine is considered “taxable “
July 11, 2025 two:45PM I've recognized a change in the way in which data is offered by SSA. I see no certain facts on how this influences me for the long term. I am seventy three now and would like to see our benefits not taxed. On the other hand, it’s a “I’ll think it Once i see it” posting.
The brand new legislation includes a provision that eradicates federal profits taxes on Social Stability Gains for most beneficiaries, providing reduction to people and couples.
The Invoice makes certain that approximately 90% of Social Safety beneficiaries will no more spend federal earnings taxes on their own Rewards, providing meaningful and fast aid to seniors who've spent a life span contributing to our country’s economic system.
By substantially lessening the tax load on Advantages, this laws reaffirms President Trump’s here assure to guard Social Protection and can help make sure that seniors can far better take pleasure in the retirement they’ve earned.”
July thirteen, 2025 six:13PM When you and/or your husband or wife worked hard for decades and The federal government took deductions for SS then here Sure, a citizen justifies the payments they promised you in retirement. Much too undesirable that countless citizens sport the system and take a lot more than they must be entitled to obtain.
July twelve, 2025 8:50PM You're 1 that should profit. Talk to your tax human being- but as I are aware of it, you are able to post a whole new withholding sort to acquire a lot less taken out OR it is possible to assert the $6k at tax time. I’m not an expert but that’s how I study it.
There is absolutely no adjust from the taxability of social protection Positive aspects. The Invoice only gives A short lived reward deduction of $6k for seniors 65+ and only earning below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I get a tiny pension along with my social protection month-to-month. I have a little financial commitment account. If I pull revenue out, it brings about my earnings to move the cash flow Restrict and my SSI is taxed. Will this however be the situation?
July ten, 2025 6:24PM How is anybody speculated to trust this Administration’s postings when they're fundamentally biased and downright deceptive? Like Some others posting on in this article, This is certainly almost nothing but gaslighting and fanfare. The details espoused are spurious to state the least.
The specifics? The freshly signed law is projected to even further to weaken the Social Security method and its revenue. The SSA’s statement can be a blatant lie and falsely misrepresents the Monthly bill which was signed into law, in addition to its damage to retirees.
People professing social stability Rewards that are under 65 or previously mentioned Those people earning thresholds will see no tax benefit.