The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely saying it removes federal money taxes on most retirees’ benefits.
It does so by offering an Increased deduction for taxpayers aged sixty five and more mature, ensuring that retirees can continue to keep far more of whatever they attained.
Social Safety remains dedicated to offering timely, precise details to the public and may proceed Operating closely with federal associates to make certain beneficiaries know how this legislation may perhaps affect them.
Therefore, the additional $6000 deduction and no taxes on SS indicates Certainly absolutely nothing to us. We've been handling the upper expenses but have acquired absolutely nothing While using the passage in the BBB.
July twelve, 2025 three:20PM So fundamentally, mainly because I’m forty three and receive SSDI this Invoice variations nothing for me While I labored LONG Tough hrs to receive the minor bit of money that I do get… due to the fact concerning my partner and I, we do make underneath $150k a 12 months, but nevertheless plenty of that Element of mine is taken into account “taxable “
July 11, 2025 2:45PM I've found a change in just how facts is offered by SSA. I see no particular facts on how this impacts me for the long term. I am seventy three now and would love to see our Gains not taxed. Having said that, it’s a “I’ll believe it Once i see it” short article.
The brand new regulation features a provision that gets rid of federal money taxes on Social Protection Gains for some beneficiaries, delivering aid to individuals and couples.
The Invoice makes sure that approximately ninety% of Social Security beneficiaries will no longer pay out federal income taxes on their Positive aspects, supplying meaningful and immediate reduction to seniors who have expended a life span contributing to our country’s economic climate.
By considerably reducing the tax stress here on Positive aspects, this legislation reaffirms President Trump’s guarantee to shield Social Protection and allows be certain that seniors can greater take pleasure in the retirement they’ve attained.”
July 13, 2025 six:13PM If you and/or your spouse labored difficult for decades and the government took deductions for SS then Certainly, a citizen deserves the payments they promised you in read more retirement. Far too terrible that a great number of citizens activity the procedure and get greater than they ought to be entitled to get.
July 12, 2025 eight:50PM You might be one that could gain. Talk with your tax person- but as I realize it, it is possible to submit a different withholding type to own much less taken out OR you are able to assert the $6k at tax time. I’m not an expert but that’s how I read through it.
There is absolutely no improve during the taxability of social security benefits. The Monthly bill only offers a temporary bonus deduction of $6k for seniors sixty five+ and only earning down below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I receive a smaller pension together with my social protection month to month. I've a little expenditure account. If I pull funds out, it triggers my revenue to move the money Restrict and my SSI is taxed. Will this still be the case?
July 10, 2025 six:24PM How is anybody speculated to believe in this Administration’s postings when they're essentially biased and downright misleading? Like Some others publishing on right here, This can be nothing at all but gaslighting and fanfare. The details espoused are spurious to state the least.
The info? The recently signed legislation is projected to more to weaken the Social Security plan and its earnings. The SSA’s assertion can website be a blatant lie and falsely misrepresents the bill which was signed into law, together with its hurt to retirees.
Persons declaring social security Added benefits who are underneath sixty five or above All those earning thresholds will see no tax benefit.