The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely boasting it eradicates federal revenue taxes on most retirees’ Advantages.
It does so by supplying an Increased deduction for taxpayers aged 65 and more mature, making certain that retirees can preserve much more of what they earned.
Social Safety continues to be dedicated to giving timely, correct info to the general public and can proceed Doing the job intently with federal partners to guarantee beneficiaries know how this legislation may possibly influence them.
As a result, the extra $6000 deduction and no taxes on SS implies Completely nothing at all to us. We've been dealing with the higher fees but have gained practically nothing Together with the passage of the BBB.
July twelve, 2025 three:20PM So basically, due to the fact I’m forty three and acquire SSDI this Invoice changes almost nothing for me Though I worked Extended Really hard hours to earn the small little bit of money which i do get… simply because amongst my husband and I, we do make less than $150k a yr, but nonetheless sufficient that Section of mine is taken into account “taxable “
July eleven, 2025 two:45PM I have recognized a change in the way in which information and facts is presented by SSA. I see no particular info on how this affects me for the long run. I am seventy three now and would love to see our Advantages not taxed. Nonetheless, it’s a “I’ll imagine it Once i see it” short article.
The new legislation includes a provision that removes federal cash flow taxes on Social Stability Rewards for the majority of beneficiaries, providing reduction to people today and couples.
The Monthly bill makes sure that approximately ninety% of Social Security beneficiaries will not fork out federal cash flow taxes on their Gains, giving significant and speedy aid to seniors who have spent a lifetime contributing to our country’s financial state.
By substantially decreasing the tax burden on Rewards, this legislation reaffirms President Trump’s promise to shield Social Stability and will help make sure seniors can better take pleasure in the retirement they’ve gained.”
July 13, 2025 6:13PM When you and/or your husband or wife worked tricky for decades and the government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Also bad that a lot of citizens match the program and choose in excess of they must be entitled to acquire.
July twelve, 2025 8:50PM You are 1 that can advantage. Talk with your tax person- but get more info as I are aware of it, you could submit a fresh withholding kind to acquire less taken out OR you may claim the $6k at tax time. I’m not an authority but that’s how I browse it.
There's no adjust within the taxability of social security Advantages. The Invoice only gives A short lived bonus deduction of $6k for seniors sixty five+ and only earning underneath $75k if Solitary or $150k if married.
July fifteen, 2025 eight:04AM I get a small pension along with my social safety regular monthly. I've a little financial read more investment account. If I pull revenue out, it results in my profits to move the earnings limit and my SSI is taxed. Will this continue to be the case?
July 10, 2025 six:24PM How is any individual purported to have faith in this Administration’s postings when they're fundamentally biased and downright misleading? Like Other individuals publishing on in this article, This really is nothing at all but gaslighting and fanfare. The information espoused are spurious to convey the least.
The facts? The recently signed legislation is projected to additional to weaken the Social Safety method and its profits. The SSA’s assertion is a blatant lie and falsely misrepresents the Invoice that was signed into law, and also its damage to retirees.
People claiming social security Gains that are underneath sixty five or earlier mentioned All those earning thresholds will see no tax profit.