The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it removes federal cash flow taxes on most retirees’ Gains.
It does so by providing an Improved deduction for taxpayers aged 65 and older, ensuring that retirees can maintain extra of what they acquired.
Social Safety continues to be committed to supplying timely, exact facts to the public and will keep on Performing intently with federal companions to be certain beneficiaries know how this legislation may well have an affect on them.
Therefore, the additional $6000 deduction and no taxes on SS usually means Totally nothing at all to us. We're coping with the higher fees but have gained nothing While using the passage of the BBB.
July 12, 2025 3:20PM So fundamentally, mainly because I’m 43 and obtain SSDI this Monthly bill modifications practically nothing for me While I worked Extensive Difficult hours to receive the little bit of cash which i do get… for the reason that concerning my spouse And that i, we do make under $150k a 12 months, but still enough that Element of mine is considered “taxable “
July 11, 2025 two:45PM I've seen a variance in the way in which facts is presented by SSA. I see no certain facts on how this has an effect on me for the long run. I am 73 now and would love to see our Rewards not taxed. On the other hand, it’s a “I’ll imagine it when I see it” article.
The new regulation features a provision that eradicates federal cash flow taxes on Social Protection Added benefits for most beneficiaries, supplying relief to folks and couples.
The Monthly bill makes sure that just about 90% of Social Security beneficiaries will now not fork out federal money taxes on their own benefits, providing significant and quick relief to seniors who may have invested a lifetime contributing to our country’s overall economy.
By significantly cutting down the tax stress on Positive aspects, this legislation reaffirms President Trump’s assure to guard Social Security and allows ensure that seniors can superior enjoy the retirement they’ve acquired.”
July thirteen, 2025 six:13PM Should you and/or your wife or husband labored hard for decades and the government took website deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Way too terrible that lots of citizens video game the procedure and get much more than they ought to be entitled to receive.
July twelve, 2025 8:50PM You will be just one which will reward. Talk with your tax man or woman- click here but as I realize it, you can post a completely new withholding kind to have much less taken out OR you are able to declare the $6k at tax time. I’m not an authority but that’s how I study it.
There is not any change while in the taxability of social security Added benefits. The Invoice only offers A brief reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if One or $150k if married.
July 15, 2025 eight:04AM I get a modest pension in conjunction with my social safety regular monthly. I've a little investment decision account. If I pull funds out, it results in my revenue to go the income limit and my SSI is taxed. Will this still be the situation?
July 10, 2025 six:24PM How is any person designed to trust this Administration’s postings when they're basically biased and downright misleading? Like Some others publishing on in this article, This can be almost nothing but gaslighting and fanfare. The details espoused are spurious to state the the very least.
The facts? The recently signed law is projected to additional to weaken the Social Security program and its earnings. The SSA’s statement can be a blatant lie and falsely misrepresents the bill which was signed into legislation, together with its hurt to retirees.
Persons proclaiming social safety benefits who will be under sixty five or higher than Those people earning thresholds will see no tax profit.