The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it gets rid of federal cash flow taxes on most retirees’ Positive aspects.
It does so by delivering an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can maintain a lot more of the things they gained.
Social Protection stays dedicated to supplying well timed, correct info to the general public and may continue working closely with federal associates to guarantee beneficiaries know how this legislation may perhaps influence them.
For that reason, the additional $6000 deduction and no taxes on SS indicates Completely very little to us. We are managing the higher expenses but have obtained practically nothing Using the passage in the BBB.
July 12, 2025 3:20PM So basically, because I’m 43 and get SSDI this bill variations absolutely nothing for me even though I worked Very long Tricky several hours to generate the minor bit of cash which i do get… mainly because in between my spouse And that i, we do make underneath $150k a yr, but nevertheless ample that Component of mine is considered “taxable “
July eleven, 2025 two:45PM I have recognized a difference in just how information and facts is introduced by SSA. I see no specific facts on how this impacts me for the long run. I'm 73 now and would like to see our Added benefits not taxed. On the other hand, it’s a “I’ll feel it After i see it” post.
The brand new law features a provision that eradicates federal cash flow taxes on Social Stability Rewards for some beneficiaries, delivering relief to folks and partners.
The Invoice makes certain that virtually ninety% of Social Security beneficiaries will no more pay federal cash flow taxes on their own Rewards, offering meaningful and speedy reduction to seniors who've spent a life time contributing to our country’s economy.
By substantially minimizing the tax load on Added benefits, this laws reaffirms President Trump’s assure to guard Social Safety and assists make sure that seniors can much better benefit from the retirement they’ve gained.”
July thirteen, 2025 six:13PM In the event you and/or your husband or wife labored really hard for decades and the government took deductions for SS get more info then Certainly, a citizen warrants the payments they promised you in retirement. Much too terrible that countless citizens recreation the system read more and consider a lot more than they ought to be entitled to receive.
July twelve, 2025 eight:50PM That you are 1 that may benefit. Talk to your tax person- but as I understand it, you'll be able to submit a new withholding sort to get less taken out OR you'll be able to declare the $6k at tax time. I’m not a professional but that’s how I study it.
There isn't a alter during the taxability of social safety Rewards. The bill only presents a temporary bonus deduction of $6k for seniors sixty five+ and only earning beneath $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I get a compact pension together with my social protection month to month. I've a small financial commitment account. If I pull funds out, it leads to my income to go the earnings Restrict and my SSI is taxed. Will this continue to be the situation?
July 10, 2025 six:24PM How is any one designed to trust this Administration’s postings when they're essentially biased and downright misleading? Like Other folks submitting on in this article, This can be almost nothing but gaslighting and here fanfare. The details espoused are spurious to state the the very least.
The details? The newly signed law is projected to more to weaken the Social Stability application and its income. The SSA’s assertion can be a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, along with its hurt to retirees.
Men and women proclaiming social stability benefits who will be less than sixty five or earlier mentioned These earning thresholds will see no tax gain.