The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it eradicates federal profits taxes on most retirees’ Advantages.
It does so by supplying an enhanced deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can retain additional of whatever they gained.
Social Safety stays committed to supplying well timed, precise information to the public and can continue working closely with federal partners to ensure beneficiaries know how this laws may perhaps influence them.
Consequently, the extra $6000 deduction and no taxes on SS suggests Totally practically nothing to us. We've been managing the higher fees but have gained absolutely nothing With all the passage on the BBB.
July twelve, 2025 three:20PM So mainly, mainly because I’m 43 and acquire SSDI this Invoice changes nothing for me Though I labored Extended Really hard hours to receive the tiny bit of cash which i do get… because involving my husband and I, we do make underneath $150k a 12 months, but nevertheless enough that Portion of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've seen a big difference in just how facts is offered by SSA. I see no specific knowledge on how this influences me for the long term. I'm seventy three now and would like to see our Advantages not taxed. Nevertheless, it’s a “I’ll believe it Once i see it” post.
The brand new law features a provision that gets rid of federal cash flow taxes on Social Security Positive aspects for most beneficiaries, furnishing relief to people today and partners.
The Monthly bill makes certain that nearly 90% of Social Stability beneficiaries will no more get more info pay back federal earnings taxes on their own Positive aspects, delivering significant and immediate reduction to seniors which have used a life span contributing to our nation’s financial system.
By considerably cutting down the tax load on social locker plugin for wordpress Rewards, this legislation reaffirms President Trump’s promise to safeguard Social Safety and allows make certain that seniors can far better take check here pleasure in the retirement they’ve gained.”
July 13, 2025 6:13PM For those who and/or your husband or wife labored challenging for decades and The federal government took deductions for SS then YES, a citizen warrants the payments they promised you in retirement. Way too lousy that a lot of citizens match the program and get greater than they ought to be entitled to obtain.
July twelve, 2025 8:50PM You might be a single that will gain. Speak with your tax human being- but as I know it, you are able to post a completely new withholding type to own considerably less taken out OR you can claim the $6k at tax time. I’m not an authority but that’s how I examine it.
There isn't any change inside the taxability of social safety benefits. The bill only gives a temporary bonus deduction of $6k for seniors sixty five+ and only earning under $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a small pension in addition to my social protection every month. I've a small expenditure account. If I pull money out, it brings about my money to move the money Restrict and my SSI is taxed. Will this even now be the case?
July 10, 2025 six:24PM How is everyone designed to trust this Administration’s postings when they are basically biased and downright deceptive? Like Other individuals putting up on right here, This really is absolutely nothing but gaslighting and fanfare. The info espoused are spurious to convey the the very least.
The points? The newly signed regulation is projected to even more to weaken the Social Security software and its revenue. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice which was signed into legislation, and also its damage to retirees.
People today declaring social safety Positive aspects who will be less than 65 or above All those earning thresholds will see no tax profit.