The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it eliminates federal money taxes on most retirees’ Rewards.
It does so by supplying an Improved deduction for taxpayers aged sixty five and more mature, ensuring that retirees can preserve far more of the things they gained.
Social Protection remains dedicated to providing well timed, precise information to the public and can keep on Doing the job carefully with federal partners to make sure beneficiaries know how this legislation might have an affect on them.
Hence, the additional $6000 deduction and no taxes on SS means Unquestionably absolutely nothing to us. We are coping with the higher expenditures but have received nothing With all the passage on the BBB.
July twelve, 2025 3:20PM So in essence, mainly because I’m forty three and get SSDI this bill changes very little for me Though I worked Extended Tough hrs to make the minimal little bit of money that I do get… because in between my partner And that i, we do make under $150k a calendar year, but still sufficient that part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've found a variance in the best way facts is introduced by SSA. I see no precise facts on how this affects me for the long term. I am seventy three now and would love to see our benefits not taxed. Having said that, it’s a “I’ll imagine it when I see it” post.
The new law features a provision that eradicates federal income taxes on Social Security Added benefits for many beneficiaries, providing reduction to people today and partners.
The Monthly bill ensures that nearly 90% of Social Safety beneficiaries will no more spend federal profits taxes on their benefits, delivering significant and speedy relief to seniors who have used a lifetime contributing to our nation’s financial state.
By drastically lowering the tax load on Advantages, this legislation reaffirms President Trump’s promise to safeguard Social Protection and assists be certain that seniors can improved take pleasure in the retirement they’ve earned.”
July 13, 2025 6:13PM Should you and/or your partner worked difficult for many years and The federal government took deductions for SS then Of course, a citizen justifies the payments they promised you in retirement. Much too terrible that a lot of citizens match the system and take more than they ought to be entitled to obtain.
July twelve, 2025 8:50PM You're just one that will benefit. Speak with your tax particular person- but as I know it, you could post a completely new withholding sort to own significantly less taken out OR you'll be able to claim the $6k read more at tax time. I’m not a professional but that’s how I go through it.
There isn't any transform during the taxability of social safety Gains. The bill only gives A short lived reward deduction of $6k for seniors sixty five+ and only earning down below $75k if One or $150k if married.
July 15, 2025 8:04AM I get a modest pension coupled with my social safety monthly. I have a little investment account. If I pull income out, it leads to my money to pass the revenue Restrict and my SSI is taxed. Will this still be the situation?
July ten, 2025 6:24PM How check here is anybody alleged to believe in this Administration’s postings when they are fundamentally biased social locker plugin and downright deceptive? Like Other individuals posting on here, this is nothing at all but gaslighting and fanfare. The details espoused are spurious to state the minimum.
The information? The newly signed legislation is projected to even more to weaken the Social Safety software and its profits. The SSA’s statement is really a blatant lie and falsely misrepresents the Invoice which was signed into legislation, together with its hurt to retirees.
Persons professing social protection benefits who are below 65 or above People earning thresholds will see no tax benefit.