The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely claiming it removes federal income taxes on most retirees’ Rewards.
It does so by supplying an Improved deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can continue to keep a lot more of whatever they earned.
Social Protection continues to be committed to offering well timed, correct data to the general public and will carry on Performing carefully with federal companions to be certain beneficiaries know how this legislation may influence them.
Consequently, the extra $6000 deduction and no taxes on SS means Completely nothing at all to us. We're handling the upper expenditures but have obtained practically nothing Together with the passage on the BBB.
July twelve, 2025 3:20PM So in essence, simply because I’m 43 and obtain SSDI this Monthly bill alterations nothing for me Despite the fact that I labored LONG Difficult hrs to gain the small bit of cash which i do get… because among my partner and I, we do make under $150k a year, but nevertheless adequate that Portion of mine is considered “taxable “
July eleven, 2025 2:45PM I've discovered a distinction in just how facts is offered by SSA. I see no certain information on how this has an effect on me for the long run. I'm 73 now and would like to see our Rewards not taxed. Nevertheless, it’s a “I’ll consider it Once i see it” short article.
The new regulation includes a provision that gets rid of federal earnings taxes on Social Protection Rewards for some beneficiaries, offering aid to individuals and couples.
The Monthly bill makes sure that nearly 90% of Social Protection beneficiaries will no longer shell out federal income taxes on their Added benefits, furnishing significant and speedy reduction to seniors who may have invested a lifetime contributing to our nation’s economic system.
By significantly minimizing the tax load on Gains, this legislation reaffirms President Trump’s promise to guard Social Protection and assists ensure that seniors can far better take pleasure in the retirement they’ve gained.”
July click here thirteen, 2025 six:13PM For those who and/or your wife or husband labored tricky for many years and the government took deductions for SS then YES, check here a citizen justifies the payments they promised you in retirement. As well lousy that so many citizens sport the technique and consider a lot more than they need to be entitled to get.
July twelve, 2025 eight:50PM You're just one which will benefit. Discuss with your tax man or woman- but as I know it, click here you'll be able to post a fresh withholding variety to own considerably less taken out OR you'll be able to claim the $6k at tax time. I’m not a professional but that’s how I read through it.
There's no adjust in the taxability of social protection Gains. The Monthly bill only provides A brief reward deduction of $6k for seniors sixty five+ and only earning below $75k if Solitary or $150k if married.
July fifteen, 2025 eight:04AM I get a modest pension as well as my social stability monthly. I've a small expense account. If I pull cash out, it leads to my income to pass the income limit and my SSI is taxed. Will this continue to be the case?
July 10, 2025 six:24PM How is everyone supposed to trust this Administration’s postings when they are fundamentally biased and downright misleading? Like Other folks submitting on here, this is nothing at all but gaslighting and fanfare. The information espoused are spurious to say the least.
The information? The freshly signed law is projected to further to weaken the Social Protection method and its earnings. The SSA’s statement is a blatant lie and falsely misrepresents the Invoice that was signed into legislation, together with its hurt to retirees.
Persons boasting social protection benefits who're beneath sixty five or above People earning thresholds will see no tax advantage.