The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it gets rid of federal earnings taxes on most retirees’ Added benefits.
It does so by delivering an Increased deduction for taxpayers aged 65 and older, making sure that retirees can retain more of the things they gained.
Social Security stays dedicated to delivering timely, accurate information and facts to the public and may continue on Performing closely with federal companions to make sure beneficiaries know how this legislation could impact them.
Consequently, the additional $6000 deduction and no taxes on SS suggests absolutely practically nothing to us. We are dealing with the higher expenses but have acquired nothing Together with the passage from the BBB.
July 12, 2025 three:20PM So fundamentally, simply because I’m forty three and receive SSDI this Monthly bill adjustments very little for me Although I labored Prolonged HARD hours to get paid the very little little bit of money which i do get… mainly because in between my partner and I, we do make underneath $150k a year, but nevertheless enough that Element of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've recognized a variance in just how details is presented by SSA. I see no precise data on how this influences me for the long run. I am seventy three now and would love to see our benefits not taxed. Having said that, it’s a “I’ll believe that it Once i see it” post.
The brand new legislation includes a provision that eradicates federal profits taxes on Social Safety benefits for the majority of beneficiaries, giving relief to persons and partners.
The bill makes certain that almost ninety% of Social Security beneficiaries will no more pay federal profits taxes on their own Gains, supplying significant and rapid reduction to seniors who may have spent a lifetime contributing to our country’s financial state.
By considerably lowering the tax burden on Gains, this legislation reaffirms President Trump’s assure to safeguard Social Protection and assists make sure that seniors can superior benefit from the retirement they’ve acquired.”
July 13, 2025 six:13PM If you and/or your wife or here husband labored tricky for decades and The federal government took deductions for SS then Of read more course, a citizen justifies the payments they promised you in retirement. Far too undesirable that a great number of citizens game the system and get a lot more than they ought to be entitled to receive.
July twelve, 2025 eight:50PM You are a person that may reward. Talk to your tax particular person- but as I are aware of it, you can submit a new withholding variety to obtain much less taken out OR you could assert the $6k at tax time. I’m not a specialist but that’s how I browse it.
There is absolutely no adjust inside the taxability of social security benefits. The Invoice only offers A short lived bonus deduction of $6k for seniors 65+ and only earning down below $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I get a modest pension as well as my social security monthly. I've a small financial investment account. social locker plugin If I pull dollars out, it will cause my money to pass the revenue Restrict and my SSI is taxed. Will this nonetheless be the situation?
July ten, 2025 six:24PM How is anybody purported to have confidence in this Administration’s postings when they are basically biased and downright deceptive? Like others publishing on here, This really is practically nothing but gaslighting and fanfare. The points espoused are spurious to convey the the very least.
The facts? The freshly signed legislation is projected to further to weaken the Social Protection software and its profits. The SSA’s statement is really a blatant lie and falsely misrepresents the Invoice that was signed into law, as well as its hurt to retirees.
Persons claiming social stability Advantages that are underneath sixty five or higher than those earning thresholds will see no tax advantage.