The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it removes federal profits taxes on most retirees’ Advantages.
It does so by delivering an Increased deduction for taxpayers aged sixty five and more mature, ensuring that retirees can hold much more of the things they acquired.
Social Security stays committed to providing timely, correct information and facts to the public and may continue Operating intently with federal companions to guarantee beneficiaries understand how this laws may perhaps have an effect on them.
As a result, the extra $6000 deduction and no taxes on SS signifies Unquestionably almost nothing to us. We've been coping with the higher fees but have acquired practically nothing While using the passage with the BBB.
July twelve, 2025 3:20PM So generally, due to the fact I’m 43 and obtain SSDI this Monthly bill variations absolutely nothing for me Despite the fact that I worked Prolonged Tricky several hours to gain the minimal bit of cash which i do get… mainly because among my husband and I, we do make below $150k a yr, but nevertheless enough that part of mine is taken into account “taxable “
July eleven, 2025 two:45PM I have observed a difference in how data is introduced by SSA. I see no distinct knowledge on how this influences me for the long run. I am seventy three now and would like to see our Rewards not taxed. Having said that, it’s a “I’ll consider it Once i see it” short article.
The new regulation features a provision that eradicates federal cash flow taxes on Social Protection Added benefits for most beneficiaries, supplying reduction to persons and partners.
The Monthly bill makes sure that virtually 90% of Social Safety beneficiaries will not read more shell out federal money taxes here on their benefits, supplying significant and instant aid to seniors that have expended a life time contributing to our country’s economic system.
By substantially cutting down the tax stress on benefits, this legislation reaffirms President Trump’s promise to guard Social Safety and helps make sure that seniors can greater enjoy the retirement they’ve gained.”
July 13, 2025 six:13PM In the event you and/or your partner labored really hard for decades and The federal government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Way too negative that a great number of citizens game the process and choose over they ought to be entitled to receive.
July 12, 2025 eight:50PM You might be a single that should advantage. Speak with your tax man or woman- but as I know it, it is possible to post a brand new withholding form to obtain considerably less taken out OR you may declare the $6k at tax time. I’m not an authority but that’s how I study it.
There's no change inside the taxability of social stability Added benefits. The bill only offers A short lived reward deduction of $6k for seniors 65+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I get a little pension as well as my social protection month-to-month. I have a little investment decision account. If I pull funds out, it triggers my money to move the income Restrict and my SSI is taxed. Will this however be the situation?
July 10, 2025 6:24PM How is anyone supposed to believe in this Administration’s postings when they are essentially biased and downright deceptive? Like Other people submitting on in this article, That is absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to convey the the very least.
The details? The recently signed law is projected to further more to weaken the Social Safety plan and its earnings. The SSA’s statement can be a blatant lie and falsely misrepresents the bill which was signed into legislation, and its hurt to retirees.
People saying social security Advantages who're under 65 or above People earning thresholds will see no tax profit.