The Social Protection Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely boasting it eradicates federal revenue taxes on most retirees’ Added benefits.
It does so by giving an Improved deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can hold much more of the things they acquired.
Social Security stays dedicated to supplying timely, exact facts to the general public and can continue on Doing the job intently with federal associates to guarantee beneficiaries understand how this legislation may possibly have an impact on them.
Hence, the additional $6000 deduction and no taxes on SS implies Definitely practically nothing to us. We have been working with the upper charges but have been given nothing Using the passage in the BBB.
July 12, 2025 3:20PM So basically, because I’m forty three and get SSDI this Invoice alterations almost nothing for me even though I worked Lengthy Difficult hours to gain the very little bit of money which i do get… mainly because amongst my husband And that i, we do make under $150k a year, but nevertheless ample that A part of mine is considered “taxable “
July eleven, 2025 2:45PM I have discovered a change in the way in which information is presented by SSA. I see no distinct info on how this has an effect on me for the long term. I'm seventy three now and would love to see our Gains not taxed. On the other hand, it’s a “I’ll think it when I see it” post.
The brand new regulation features a provision that eradicates federal revenue taxes on Social Protection Gains for many beneficiaries, supplying reduction to men and women and read more couples.
The bill ensures that approximately ninety% of Social Stability beneficiaries will no longer pay federal income taxes on their own Advantages, delivering meaningful and fast relief to seniors who've expended a lifetime contributing to our nation’s economy.
By appreciably lowering the tax load on Added benefits, this legislation reaffirms President Trump’s assure to guard Social Security and assists be certain that seniors can superior benefit from the retirement they’ve attained.”
July thirteen, 2025 6:13PM When you and/or your spouse worked hard for decades and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Too bad that a lot of citizens sport the method and get greater than they should be entitled to acquire.
July twelve, 2025 eight:50PM You will be one particular that can advantage. Discuss with your tax individual- but as I comprehend it, you'll be able to post a different withholding kind to possess much less taken out OR you are able to assert the $6k at tax time. I’m not an authority but that’s how I more info read it.
There isn't any improve during the taxability of social protection Gains. The Monthly bill only gives A short lived bonus deduction of $6k for seniors sixty five+ and only earning beneath $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I get a tiny pension along with my website social protection month-to-month. I've a little financial investment account. If I pull income out, it leads to my profits to pass the profits limit and my SSI is taxed. Will this continue to be the situation?
July 10, 2025 six:24PM How is any person supposed to have faith in this Administration’s postings when they are basically biased and downright deceptive? Like others posting on listed here, this is nothing at all but gaslighting and fanfare. The info espoused are spurious to say the least.
The information? The recently signed legislation is projected to further to weaken the Social Stability plan and its revenue. The SSA’s assertion is really a blatant lie and falsely misrepresents the Invoice that was signed into regulation, together with its hurt to retirees.
Persons professing social protection Advantages who're less than sixty five or previously mentioned those earning thresholds will see no tax reward.