The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely boasting it eliminates federal money taxes on most retirees’ Rewards.
It does so by supplying an enhanced deduction for taxpayers aged 65 and older, guaranteeing that retirees can continue to keep extra of the things they gained.
Social Safety stays dedicated to providing timely, exact information and facts to the general public and can continue Doing work carefully with federal associates to make certain beneficiaries understand how this laws may perhaps have an affect on them.
Consequently, the extra $6000 deduction and no taxes on SS means absolutely almost nothing to us. We're managing the upper costs but have obtained absolutely nothing While using the passage with the BBB.
July 12, 2025 three:20PM So essentially, because I’m forty three and receive SSDI this Invoice improvements practically nothing for me Despite the fact that I worked Lengthy Difficult hrs to receive the tiny little bit of cash which i do get… for the reason that amongst my spouse And that i, we do make beneath $150k a 12 months, but nevertheless sufficient that part of mine is considered “taxable “
July 11, 2025 2:45PM I've found a change in the way in which facts is introduced by SSA. I see no unique info on how this has an effect on me for the long term. I'm seventy three now and would love to see our Positive aspects not taxed. Even so, it’s a “I’ll believe it when I see it” article.
The brand new regulation features a provision that eradicates federal earnings taxes on Social Safety benefits for some beneficiaries, furnishing reduction to people today and couples.
The bill makes certain that nearly 90% of Social Security beneficiaries will not shell out federal revenue taxes on their Gains, offering significant and rapid reduction to seniors who may have spent a life time contributing to our nation’s financial state.
By substantially minimizing the tax stress on Advantages, this legislation reaffirms President Trump’s guarantee to safeguard Social Stability and will help be sure that seniors can improved take pleasure in the retirement they’ve acquired.”
July thirteen, 2025 six:13PM In case you and/or your wife or husband labored really hard for many years and The federal government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Much too lousy that countless citizens recreation the system and just take over they need to be entitled to acquire.
July twelve, 2025 eight:50PM That you are a single which will gain. Speak with your tax human being- but as I understand it, you'll be here able to post a fresh withholding variety to have fewer taken out OR you'll be able to claim the $6k at tax time. I’m not an authority but that’s how I read it.
There isn't any change while in the taxability of social protection Rewards. The Invoice only gives a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I receive a compact pension as well as my social safety month-to-month. I've a little financial commitment account. If I pull money out, it will cause my revenue to pass the earnings Restrict and my SSI is taxed. Will this still be the case?
July 10, 2025 six:24PM How is anybody alleged to have faith social locker plugin for wordpress in this Administration’s postings when they are basically biased and downright misleading? Like others putting up on click here right here, That is almost nothing but gaslighting and fanfare. The information espoused are spurious to convey the minimum.
The information? The freshly signed regulation is projected to further to weaken the Social Protection program and its income. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, in addition to its damage to retirees.
Individuals boasting social security Advantages who're below 65 or earlier mentioned Individuals earning thresholds will see no tax gain.