The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely boasting it gets rid of federal income taxes on most retirees’ Positive aspects.
It does so by supplying an enhanced deduction for taxpayers aged 65 and more mature, ensuring that retirees can hold additional of what they acquired.
Social Stability remains committed to offering well timed, accurate information and facts to the general public and may carry on Doing work closely with federal partners to ensure beneficiaries know how this legislation may perhaps have an effect on them.
For that reason, the additional $6000 deduction and no taxes on SS usually means Certainly almost nothing to us. We are coping with the higher prices but have been given nothing at all Along with the passage of the BBB.
July twelve, 2025 three:20PM So fundamentally, simply because I’m 43 and acquire SSDI this Monthly bill variations nothing at all for me While I worked Extensive Tough hours to get paid the very little bit of money which i do get… since concerning my spouse And that i, we do make underneath $150k a year, but nonetheless enough that Element of mine is taken into account “taxable “
July 11, 2025 two:45PM I have seen a big difference in the way in which information and facts is presented by SSA. I see no particular facts on how this impacts me for the long term. I am seventy three now and would like to see our Gains not taxed. On the other hand, it’s a “I’ll believe that it After i see it” posting.
The brand new law includes a provision that eliminates federal cash flow taxes on Social Stability Rewards for some beneficiaries, offering aid to people and couples.
The Monthly bill makes sure that almost 90% of Social Stability beneficiaries will no more spend federal cash flow taxes on their own Rewards, giving meaningful and rapid aid to seniors who definitely have expended a lifetime contributing to our country’s overall economy.
By substantially lowering the tax load on Rewards, this laws reaffirms President Trump’s guarantee to protect Social Stability and allows ensure that seniors can superior enjoy the retirement they’ve acquired.”
July thirteen, 2025 6:13PM When you and/or your wife or husband labored tough for decades website and The federal government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Far too bad that numerous citizens activity the program and acquire over they must be entitled to obtain.
July 12, 2025 8:50PM You will be a single which will gain. Discuss with your tax individual- but as I are aware of it, it is possible to submit a new withholding form to obtain fewer taken out OR you can declare the $6k at tax time. I’m not a specialist but that’s how read more I study it.
There's no alter within the taxability of social stability benefits. The Monthly bill only presents A short lived bonus deduction of $6k for seniors 65+ and only earning down below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I receive a small pension in addition to click here my social stability month-to-month. I have a little expenditure account. If I pull funds out, it triggers my profits to pass the income limit and my SSI is taxed. Will this still be the case?
July 10, 2025 6:24PM How is anyone supposed to believe in this Administration’s postings when they're basically biased and downright misleading? Like Other people posting on here, This really is very little but gaslighting and fanfare. The info espoused are spurious to state the least.
The details? The recently signed law is projected to more to weaken the Social Safety method and its earnings. The SSA’s statement is often a blatant lie and falsely misrepresents the Monthly bill that was signed into law, as well as its damage to retirees.
Men and women declaring social stability Gains who're beneath 65 or higher than All those earning thresholds will see no tax advantage.