The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it eradicates federal money taxes on most retirees’ Advantages.
It does so by furnishing an Increased deduction for taxpayers aged sixty five and older, ensuring that retirees can maintain far more of whatever they gained.
Social Protection stays dedicated to delivering well timed, precise information and facts to the public and will carry on Performing carefully with federal companions to be sure beneficiaries know how this legislation may well affect them.
As a result, the extra $6000 deduction and no taxes on SS implies Completely absolutely nothing to us. We've been coping with the upper expenses but have received nothing at all Using the passage of the BBB.
July 12, 2025 3:20PM So in essence, simply because I’m forty three and receive SSDI this bill improvements absolutely nothing for me Although I worked LONG Tough hours to make the minor bit of cash which i do get… mainly because concerning my spouse and I, we do make under $150k a 12 months, but still enough that Portion of mine is considered “taxable “
July 11, 2025 2:45PM I've found a variance in how data is presented by SSA. I see no distinct facts on how this impacts me for the long term. I am 73 now and would like to see our benefits not taxed. On the other hand, it’s a “I’ll believe that it when I see it” article.
The new regulation includes a provision that eradicates federal earnings taxes on Social Stability Positive aspects for most beneficiaries, giving aid to folks and partners.
The bill makes certain that almost ninety% of Social Security beneficiaries will not pay back federal cash flow taxes on their own Advantages, delivering meaningful and rapid reduction to seniors who may have used a life time contributing to our nation’s economic system.
By drastically reducing the tax stress on Rewards, this laws reaffirms President Trump’s promise to safeguard Social Safety and allows ensure that seniors can improved enjoy the retirement they’ve attained.”
July thirteen, 2025 six:13PM In the event you and/or your partner worked difficult for decades and the government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. Much too bad that so many citizens activity the system and take a lot more than they must be entitled to get.
July twelve, 2025 eight:50PM You will be one that can benefit. Speak to your tax person- but as I comprehend it, here you can post a new withholding type to possess much less taken out OR you can declare the $6k at tax time. I’m not an authority but that’s how I read it.
There is not any improve while in the taxability of social stability Positive aspects. The Invoice only offers a temporary reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if Solitary or $150k if married.
July fifteen, 2025 eight:04AM I receive a little pension together with my social protection month to month. here I have a little expenditure account. If I pull income out, it leads to my cash flow to move the revenue limit and my SSI is taxed. Will this still be the case?
July ten, 2025 six:24PM How is any individual imagined to have confidence in this Administration’s postings when they're essentially biased and downright misleading? Like Many others submitting on in this article, this is nothing at all but gaslighting and fanfare. The info espoused are spurious to state the least.
The facts? The newly signed law is projected to more to weaken the Social Protection software and its earnings. The SSA’s read more assertion is really a blatant lie and falsely misrepresents the bill that was signed into law, and also its damage to retirees.
Men and women boasting social protection Positive aspects that are less than sixty five or above those earning thresholds will see no tax benefit.