The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely claiming it removes federal income taxes on most retirees’ Positive aspects.
It does so by providing an enhanced deduction for taxpayers aged sixty five and older, making certain that retirees can hold more of whatever they attained.
Social Safety remains dedicated to furnishing well timed, correct data to the general public and can proceed working closely with federal associates to ensure beneficiaries understand how this legislation may have an impact on them.
As a result, the extra $6000 deduction and no taxes on SS implies absolutely nothing to us. We have been addressing the higher charges but have acquired nothing With all the passage of the BBB.
July 12, 2025 3:20PM So generally, since I’m 43 and acquire SSDI this bill improvements nothing for me Though I labored Lengthy Tough several hours to make the minor little bit of cash that I do get… since among my partner And that i, we do make beneath $150k a year, but still more than enough that Component of mine is taken into account “taxable “
July 11, 2025 2:45PM I've observed a variance in the best way information is presented by SSA. I see no particular info on how this has an effect on me for the long term. I'm seventy three now and would love to see our Gains not taxed. On the other hand, it’s a “I’ll believe it when I see it” short article.
The new regulation features a provision that removes federal money taxes on Social Safety Positive aspects for some beneficiaries, providing relief to people and couples.
The Invoice makes sure that almost ninety% of Social Security beneficiaries will click here now not pay back federal profits taxes on their Gains, delivering meaningful and immediate reduction to seniors who have put in a life span contributing to our nation’s overall economy.
By substantially minimizing the tax stress on Added benefits, this laws reaffirms President Trump’s promise to safeguard Social Safety and can help be certain that seniors can superior enjoy the retirement they’ve gained.”
July 13, 2025 6:13PM For those who and/or your spouse worked difficult for many years and The federal government took deductions for SS then Certainly, a citizen warrants the payments they promised you in retirement. Far too poor that so many citizens game the process and take over they must be entitled to obtain.
July twelve, 2025 eight:50PM That you are one particular that could gain. Talk to your tax man or woman- but as I know it, you could post a new withholding form to own a lot less taken out OR you are able to declare the $6k at tax time. I’m not a specialist but that’s how I go through it.
There is more info not any adjust from the taxability of social protection Positive aspects. The Invoice only provides a temporary reward deduction of $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I get a little pension along with my social stability regular. I have a little financial commitment account. If I pull dollars out, it triggers my income to move the earnings limit and my SSI is taxed. Will this even now be the case?
July ten, 2025 six:24PM How is anybody purported to have faith in this Administration’s postings when they're fundamentally biased and downright misleading? Like Other people submitting on listed here, This is often absolutely nothing but gaslighting and fanfare. The facts espoused are spurious to mention the the very least.
The points? The newly signed law is projected to even further to weaken the Social Safety method and its revenue. The SSA’s statement is often a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, and its harm to retirees.
People today claiming social stability Positive aspects who are under 65 or previously mentioned those earning thresholds will see no tax reward.