The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it eradicates federal revenue taxes on most retirees’ Positive aspects.
It does so by offering an Increased deduction for taxpayers aged 65 and older, making sure that retirees can hold extra of what they earned.
Social Security stays dedicated to giving well timed, precise info to the public and will continue on Functioning closely with federal companions to make certain beneficiaries know how this legislation may well have an affect on them.
As a result, the additional $6000 deduction and no taxes on SS implies absolutely nothing to us. We are coping with the higher expenses but have acquired practically nothing Along with the passage on the BBB.
July twelve, 2025 3:20PM So essentially, simply because I’m forty three and get SSDI this Invoice alterations nothing at all for me Despite the fact that I worked Lengthy HARD several hours to gain the very little bit of cash which i do get… simply because concerning my husband And that i, we do make under $150k a 12 months, but nevertheless sufficient that Portion of mine is considered “taxable “
July eleven, 2025 2:45PM I have observed a difference in the way details is introduced by SSA. I see no particular details on how this has an effect on me for the long run. I'm 73 now and would like to see our Advantages not taxed. However, it’s a “I’ll believe that it when I see it” short article.
The new legislation features a provision that gets rid of federal money taxes on Social Protection Rewards for the majority of beneficiaries, supplying reduction to people and couples.
The Monthly bill ensures that nearly 90% of Social Protection beneficiaries will now not spend federal income taxes on their Added benefits, supplying meaningful and rapid aid to seniors who've put in a lifetime contributing to our nation’s economic climate.
By significantly lowering the tax load on Added benefits, this laws reaffirms President Trump’s assure to safeguard Social Stability and helps make certain that seniors can greater benefit from the retirement they’ve acquired.”
July 13, 2025 6:13PM For those who and/or your wife or husband worked tricky for decades and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Far too terrible that a great number of citizens activity the system and social locker plugin choose more than they should be entitled to acquire.
July twelve, 2025 eight:50PM You happen to be one particular that could reward. Speak with your tax particular person- but as I comprehend it, you can post a different withholding kind to get much less taken out OR you can assert the $6k at tax time. I’m not an expert but that’s how I go through it.
There isn't a improve during the taxability of social safety Advantages. The bill only provides a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a little pension in conjunction with my social security month-to-month. I have a small expense account. If I pull money out, it brings about my earnings to go the revenue Restrict and my SSI is taxed. Will this nonetheless be the situation?
July ten, 2025 6:24PM How is everyone supposed to have confidence in this Administration’s postings when they are essentially biased and website downright misleading? Like others posting on in this article, this is almost nothing but gaslighting and fanfare. The details espoused are spurious to state the minimum.
The facts? The freshly signed law is projected to more to weaken the Social Protection program and its profits. The SSA’s statement is really a blatant lie and falsely website misrepresents the Invoice that was signed into legislation, and also its hurt to retirees.
People today declaring social security Rewards who're below 65 or higher than All those earning thresholds will see no tax profit.