The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it eradicates federal cash flow taxes on most retirees’ Gains.
It does so by providing an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can continue to keep more of whatever they gained.
Social Stability stays committed to providing well timed, accurate data to the general public and can continue on Doing work intently with federal associates to make sure beneficiaries know how this legislation might impact them.
Thus, the extra $6000 deduction and no taxes on SS usually means Unquestionably almost nothing to us. We're managing the upper fees but have received nothing Using the passage in the BBB.
July twelve, 2025 three:20PM So basically, because I’m forty three and obtain SSDI this bill variations practically nothing for me Although I worked Lengthy Really hard hours to gain the little bit of money that I do get… because among my spouse And that i, we do make underneath $150k a yr, but still sufficient that Component of mine is taken into account “taxable “
July eleven, 2025 2:45PM I have observed a variation in how info is presented by SSA. I see no certain facts on how this affects me for the long run. I'm seventy three now and would love to see our Advantages not taxed. Even so, it’s a “I’ll believe that it when I see it” report.
The new law includes a provision that removes federal earnings taxes on Social Security Gains for many beneficiaries, offering relief to persons and couples.
The Monthly bill makes certain that nearly ninety% of Social Security beneficiaries will now not pay back federal money taxes on their Gains, offering significant and quick relief to seniors who definitely have get more info put in a lifetime contributing to our nation’s overall economy.
By drastically cutting down the tax burden on Gains, this legislation reaffirms President Trump’s guarantee to guard Social Protection and aids ensure that seniors can better take pleasure in the retirement they’ve gained.”
July thirteen, 2025 six:13PM In case you and/or your wife or husband labored challenging for many years and the government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Too lousy that countless citizens game the procedure and just take much more than they need to be entitled to receive.
July twelve, 2025 eight:50PM You are 1 that can advantage. Talk to your tax person- but as I understand it, you are able to submit a whole new withholding variety to have a lot less taken out OR you'll be able to claim the $6k at tax time. I’m not a specialist but that’s how I read through it.
There is no alter in the taxability of social protection Rewards. The Invoice only presents A brief reward deduction of $6k for seniors sixty five+ and only earning underneath $75k if One or $150k if married.
July fifteen, 2025 8:04AM I receive a tiny pension together with my social safety month to month. I have a small expense account. If I pull income out, it brings about my profits get more info to pass the earnings limit and my SSI is taxed. Will this continue to be the case?
July ten, 2025 6:24PM How is any individual designed to have faith in this Administration’s postings when they're essentially biased and downright deceptive? Like Many others publishing on in this article, This is often nothing at all but gaslighting and fanfare. The information espoused are spurious to convey the least.
The specifics? The newly signed law is projected to even more to weaken the Social Safety software and its profits. The SSA’s statement is a blatant lie and falsely misrepresents the bill which was signed into legislation, along with its harm to retirees.
People saying social security Gains who're beneath sixty five or higher than These earning thresholds will see no tax profit.