The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it eliminates federal money taxes on most retirees’ Rewards.
It does so by providing an Increased deduction for taxpayers aged 65 and older, making sure that retirees can retain more of the things they acquired.
Social Security remains devoted to offering well timed, correct info to the general public and can continue Functioning closely with federal partners to make sure beneficiaries understand how this laws could influence them.
Thus, the extra $6000 deduction and no taxes on SS indicates Totally nothing to us. We are working with the upper charges but have gained very little With all the passage in the BBB.
July 12, 2025 3:20PM So essentially, since I’m 43 and acquire SSDI this Monthly bill changes absolutely nothing for me Though I worked LONG Tough several hours to generate the minor little bit of cash which i do get… since among my husband And that i, we do make under $150k a year, but nevertheless adequate that Portion of mine is considered “taxable “
July 11, 2025 2:45PM I have noticed a difference in the best way information is introduced by SSA. I see no precise details on how this impacts me for the long run. I'm 73 now and would like to see our Positive aspects not taxed. Nevertheless, it’s a “I’ll consider it Once i see it” posting.
The brand new law features a provision that eliminates federal cash flow taxes on Social Security Positive aspects for some beneficiaries, delivering aid to individuals and couples.
The Monthly bill ensures that virtually ninety% of Social Security beneficiaries will no more pay back federal earnings taxes on their Added benefits, providing meaningful and speedy relief to seniors who may have put in a life span contributing to our country’s financial state.
By considerably minimizing the tax burden on Advantages, this laws reaffirms President Trump’s assure to guard Social Stability and assists ensure that seniors can superior enjoy the retirement they’ve gained.”
July thirteen, 2025 6:13PM When you and/or your spouse worked really hard for many years and the government took deductions for SS then YES, a citizen deserves the payments they promised you in retirement. Also lousy that countless citizens match the technique and get much more than they ought to be entitled to acquire.
July 12, 2025 8:50PM You happen to be one particular that can reward. Speak with your tax individual- social locker plugin but as I comprehend it, you can post a whole new withholding type to possess fewer taken out OR you may declare the $6k at tax time. I’m not a professional but that’s how I go through it.
There is not any transform within the taxability of social stability Positive aspects. The Monthly bill only provides a temporary bonus deduction of $6k for seniors sixty five+ and only earning beneath $75k if One or $150k if married.
July 15, 2025 8:04AM I get a tiny pension along with my social safety every month. I have a small financial commitment account. If I pull funds out, it causes my revenue to go the earnings limit and my SSI is taxed. Will this however be the situation?
July 10, 2025 6:24PM How is everyone imagined to rely on more info this Administration’s postings when they're fundamentally biased and downright misleading? Like Other individuals putting up on here, This really is nothing but gaslighting and fanfare. The specifics espoused are spurious to state the the very least.
The specifics? The recently signed legislation is projected to even more to weaken the Social social locker plugin for wordpress Stability method and its income. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice that was signed into regulation, along with its hurt to retirees.
Persons professing social safety Rewards who're below 65 or earlier mentioned These earning thresholds will see no tax reward.