The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it eliminates federal cash flow taxes on most retirees’ Positive aspects.
It does so by offering an Improved deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can continue to keep additional of whatever they attained.
Social Safety remains committed to giving timely, precise data to the public and can continue Doing work closely with federal associates to be sure beneficiaries understand how this legislation may possibly have an affect on them.
Thus, the extra $6000 deduction and no taxes on SS suggests absolutely absolutely nothing to us. We are handling the higher expenses but have gained nothing at all Along with the passage of your BBB.
July twelve, 2025 three:20PM So basically, for the reason that I’m 43 and acquire SSDI this bill alterations almost nothing for me While I worked Prolonged Tricky hrs to earn the little little bit of money which i do get… simply because concerning my partner and I, we do make underneath $150k a 12 months, but nonetheless enough that Portion of mine is taken into account “taxable “
July 11, 2025 2:45PM I have discovered a variation in the way in which information is offered by SSA. I see no precise data on how this has an effect on me for the long term. I'm seventy three now and would like to see our Advantages not taxed. Nevertheless, it’s a “I’ll consider it Once i see it” short article.
The brand new law includes a provision that gets rid of federal income taxes on Social Protection Advantages for many beneficiaries, offering aid to men and women and couples.
The Invoice makes sure that approximately ninety% of Social Stability beneficiaries will no longer spend federal income taxes on their benefits, supplying significant and instant aid to seniors who definitely have used a life time contributing to our country’s financial state.
By noticeably decreasing the tax stress on Added benefits, this laws reaffirms President Trump’s assure to protect Social get more info Protection and aids make sure seniors can better benefit from the retirement they’ve attained.”
July thirteen, 2025 6:13PM In the event you and/or your partner worked really hard for decades and The federal government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Far too bad that a great number of citizens game the program and choose a lot more than they must be entitled to receive.
July 12, 2025 8:50PM You're one particular that could reward. Speak to your tax human being- but as I understand it, it is possible to submit a whole new withholding sort to obtain considerably less taken out OR you could declare the $6k at tax time. I’m not a specialist but that’s how I go through it.
There isn't any change from the taxability of social protection Gains. The here Invoice only presents A brief bonus deduction of $6k for seniors sixty five+ and only earning down below $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I get a small pension along with my social security regular monthly. I've a little investment decision account. If I pull funds out, it leads to my earnings to move the cash flow Restrict and my SSI is taxed. Will this nonetheless be the situation?
July ten, 2025 six:24PM How is everyone alleged to have faith in this Administration’s postings when they're basically biased and downright misleading? Like Some others publishing on here, That is nothing but gaslighting and fanfare. The details espoused are spurious to say the minimum.
The specifics? The recently signed legislation is projected to further more to weaken the Social Safety method and its earnings. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Monthly bill that was signed into law, along with its damage to retirees.
Persons declaring social stability benefits who are beneath sixty five or previously mentioned These earning social locker plugin thresholds will see no tax gain.