The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it eliminates federal money taxes on most retirees’ Gains.
It does so by offering an Increased deduction for taxpayers aged 65 and more mature, ensuring that retirees can retain far more of whatever they earned.
Social Safety continues to be committed to offering well timed, accurate data to the public and may carry on Doing work intently with federal companions to be sure beneficiaries understand how this legislation may possibly influence them.
Therefore, the additional $6000 deduction and no taxes on SS signifies Completely practically nothing to us. We are coping with the higher prices but have gained very little While using the passage from the BBB.
July twelve, 2025 3:20PM So basically, mainly because I’m 43 and get SSDI this bill improvements nothing for me While I worked Lengthy Tricky several hours to receive the little bit of money which i do get… for the reason that amongst my partner And that i, we do make below $150k a 12 months, but nonetheless sufficient that Element of mine is taken into account “taxable “
July eleven, 2025 two:45PM I've discovered a distinction in the way in which info is introduced by SSA. I see no distinct info on how this has an effect on me for the long run. I'm seventy three now and would love to see our Added benefits not taxed. However, it’s a “I’ll imagine it Once i see it” article.
The new regulation includes a provision that eliminates federal profits taxes on Social Security benefits for some beneficiaries, providing reduction to people today and partners.
The bill ensures that just about ninety% of Social Safety beneficiaries will no more fork out federal money taxes on their own Gains, furnishing meaningful and rapid aid to seniors who've invested a lifetime contributing to our here country’s financial system.
By significantly decreasing the tax burden on Gains, this laws reaffirms President Trump’s assure to shield Social Stability and helps make certain that seniors can superior benefit from the retirement they’ve gained.”
July 13, 2025 6:13PM In case you and/or your partner labored difficult for many years and The federal government took deductions for SS then YES, a citizen deserves the payments they promised you in retirement. Also negative that so many citizens sport the technique and choose over they ought to be entitled to receive.
July 12, 2025 eight:50PM You will be a single that should benefit. Speak to your tax particular person- but as I realize it, you could post a new withholding social locker plugin type to own a lot less taken out OR you may declare the $6k at tax time. I’m not a specialist but that’s how I read through it.
There is no change in the taxability of social stability Gains. The Monthly bill only offers A brief bonus deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I receive a compact pension along with my social stability regular. I have a little investment decision account. If I pull cash out, it causes my money to move the income Restrict and my SSI is taxed. Will this however be the case?
July ten, 2025 6:24PM How is any individual imagined to belief this Administration’s postings when they are essentially biased and downright deceptive? Like Some others submitting on right here, This is often practically nothing but gaslighting and fanfare. The details espoused are spurious to state the the very least.
The information? The recently signed law is projected to even more to weaken the Social Protection program and its revenue. The SSA’s statement is a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, as well as its damage to retirees.
People today claiming social safety Positive aspects who will be underneath sixty five or higher than These earning thresholds will see no tax gain.