The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it gets rid of federal income taxes on most retirees’ Advantages.
It does so by furnishing an Increased deduction for taxpayers aged sixty five and older, making certain that retirees can retain additional of what they attained.
Social Stability remains committed to delivering well timed, accurate info to the public and may continue on Doing work closely with federal associates to ensure beneficiaries understand how this legislation might affect them.
Thus, the extra $6000 deduction and no taxes on SS implies Totally nothing to us. We are managing the higher fees but have been given absolutely nothing Using the passage with the BBB.
July twelve, 2025 three:20PM So fundamentally, due to the fact I’m forty three and obtain SSDI this bill variations very little for me Although I worked Extended Tough hours to make the tiny little bit of cash that I do get… for the reason that between my husband and I, we do make less than $150k a year, but nevertheless adequate that part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I have seen a variation in just how information and facts is introduced by SSA. I see no certain facts on how this affects me for the long run. I'm seventy three now and would like to see our Advantages not taxed. Nevertheless, it’s a “I’ll imagine it when I see it” article.
The new law includes a provision that eradicates federal cash flow taxes on Social Stability Positive aspects for some beneficiaries, offering reduction to people today and partners.
The Monthly bill makes sure that approximately 90% of Social Security beneficiaries will no more pay back federal earnings taxes on their Added benefits, providing meaningful and quick reduction to seniors which have expended a life time contributing to our nation’s financial system.
By substantially minimizing the tax load on Positive aspects, this legislation reaffirms President Trump’s guarantee to shield Social Protection and assists make sure seniors can improved benefit from the retirement they’ve earned.”
July 13, 2025 six:13PM If you and/or your partner labored really hard for decades and The federal government took deductions for SS then Sure, a citizen deserves the payments they promised you in retirement. Also negative that countless citizens activity the process and choose greater than they must be entitled to get.
July twelve, 2025 8:50PM You are 1 that can benefit. Check with your tax man or woman- but as I are aware of it, it is possible to submit a completely new withholding kind to own much less taken out OR it is possible to declare the $6k at tax time. I’m not a specialist but that’s how I go through it.
There is not any transform from the taxability of social protection Gains. The bill only offers a temporary reward deduction of $6k for seniors 65+ and only earning beneath $75k if Solitary more info or $150k if married.
July fifteen, 2025 eight:04AM I get a little pension along with my social security regular monthly. I've a small investment decision account. If I pull dollars out, it brings about my income to pass the earnings Restrict and my SSI is taxed. Will this nevertheless be the situation?
July ten, 2025 6:24PM get more info How is any person speculated to have confidence in this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other individuals publishing on right here, This can be nothing but gaslighting and fanfare. The points espoused are spurious to mention the least.
The details? The newly signed law is projected to additional to weaken the Social Stability system and its earnings. The SSA’s statement is often a blatant lie and falsely misrepresents the Monthly bill which was signed into regulation, and its harm to retirees.
Persons proclaiming social stability Rewards who will be under 65 or earlier mentioned These earning thresholds will see no tax reward.