The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely professing it removes federal earnings taxes on most retirees’ Added benefits.
It does so by delivering an enhanced deduction for taxpayers aged 65 and older, guaranteeing that retirees can hold far more of what they acquired.
Social Protection continues to be devoted to supplying timely, correct facts to the public and may continue Doing the job closely with federal associates to ensure beneficiaries know how this laws may possibly influence them.
Therefore, the extra $6000 deduction and no taxes on SS implies Totally almost nothing to us. We have been working with the upper expenses but have obtained practically nothing Along with the passage of your BBB.
July 12, 2025 3:20PM So basically, because I’m forty three and receive SSDI this Monthly bill alterations very little for me While I worked Extended Challenging hrs to get paid the minor bit of money that I do get… because among my partner And that i, we do make less than $150k a 12 months, but nonetheless enough that part of mine is considered “taxable “
July 11, 2025 2:45PM I've discovered a distinction in how details is introduced by SSA. I see no precise details on how this has an effect on me for the long run. I am seventy three now and would like to see our Gains not taxed. Even so, it’s a “I’ll imagine it After i see it” article.
The brand new law includes a provision that eliminates federal cash flow taxes on Social Safety benefits for many beneficiaries, providing aid to men and women and partners.
The Monthly bill makes sure that approximately ninety% of Social Protection beneficiaries will not pay back federal cash flow taxes on their Gains, delivering meaningful and rapid reduction to seniors who definitely have invested a life time contributing to our country’s overall economy.
By drastically decreasing the tax load on Added benefits, this laws reaffirms President Trump’s promise to safeguard Social Security and can help make sure seniors can much better take pleasure in the retirement they’ve earned.”
July 13, 2025 6:13PM Should you and/or your husband or wife read more labored really hard for decades and The federal government took deductions for SS then Of course, a citizen warrants the payments they promised you in retirement. Far too negative that so many citizens video game the procedure and take in excess of they must be entitled to get.
July twelve, 2025 8:50PM You are 1 that should profit. Discuss with your tax person- but as I understand it, it is social locker plugin for wordpress possible to post a whole new withholding sort to acquire a lot less taken out OR it is possible to declare the $6k at tax time. I’m not a professional but that’s how I read it.
There isn't a adjust while in the taxability of social protection Added benefits. The Monthly bill only presents A short lived bonus deduction of $6k for seniors 65+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I receive a smaller pension along with my social protection regular. I have a small investment decision account. If I pull revenue out, it causes my earnings to go the income Restrict and my SSI is taxed. Will this nonetheless be the situation?
July ten, 2025 six:24PM How is anyone designed to have faith in this Administration’s postings when they are fundamentally biased and downright deceptive? Like Many others putting up on here, this is almost nothing but gaslighting and fanfare. The points espoused are spurious to say the minimum.
The points? The freshly signed legislation is projected to even more to weaken the Social Stability application and its earnings. The SSA’s statement is really a blatant lie and falsely misrepresents the Monthly bill that was signed into law, together with social locker plugin its damage to retirees.
Men and women professing social safety Advantages who will be beneath 65 or higher than All those earning thresholds will see no tax advantage.