The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it eliminates federal cash flow taxes on most retirees’ Rewards.
It does so by giving an Improved deduction for taxpayers aged sixty five and more mature, ensuring that retirees can continue to keep a lot more of what they attained.
Social Protection stays dedicated to giving timely, precise details to the general public and may proceed Doing work intently with federal companions to make certain beneficiaries know how this legislation might have an impact on them.
As a result, the extra $6000 deduction and no taxes on SS signifies absolutely absolutely nothing to us. We're working with the higher expenditures but have received very little Using the passage from the BBB.
July 12, 2025 three:20PM So mainly, because I’m 43 and acquire SSDI this bill improvements almost nothing for me While I worked Extensive Difficult several hours to gain the minimal bit of money which i do get… because concerning my partner And that i, we do make less than $150k a 12 months, but nevertheless enough that Element of mine is considered “taxable “
July eleven, 2025 2:45PM I have noticed a big difference in just how information is offered by SSA. I see no distinct data on how this influences me for the long term. I'm seventy three now and would love to see our benefits not taxed. Having said that, it’s a “I’ll feel it Once i see it” report.
The brand new legislation features a provision that eradicates federal money taxes on Social Safety Added benefits for many beneficiaries, get more info giving aid to individuals and couples.
The Monthly bill makes certain that nearly ninety% of Social Stability beneficiaries will no longer pay federal money taxes on their own Added benefits, delivering significant and immediate reduction to seniors that have expended a lifetime contributing to our country’s overall economy.
By considerably cutting down the tax stress on Positive aspects, this laws reaffirms President Trump’s assure to safeguard Social Stability and aids make sure seniors can superior benefit from the retirement they’ve earned.”
July 13, 2025 six:13PM In case you and/or your husband or wife labored hard for decades and the government took deductions for SS then YES, a citizen warrants the payments they promised you in retirement. Too negative that countless citizens activity the system and just take over they ought to be entitled to receive.
July 12, 2025 eight:50PM You're one particular that will profit. Discuss with your tax particular person- but as I know it, you can post a whole new withholding variety to get fewer taken out OR you can declare the $6k at tax time. I’m not a professional but that’s how I read it.
There isn't a improve while in the taxability of social protection benefits. The Invoice only gives a temporary reward deduction of $6k for seniors 65+ and only earning below $75k if Single or $150k if married.
July 15, 2025 8:04AM I receive a small pension along with my social stability regular. I've a little investment account. If I pull revenue out, it results in my money to pass the profits limit and my SSI is taxed. Will this still be the case?
July ten, 2025 6:24PM How is anybody designed to belief this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other individuals posting on here, this is almost nothing but gaslighting and fanfare. The facts espoused are spurious to convey the least.
The points? The newly signed legislation is projected to additional to weaken the Social Stability plan and its revenue. The SSA’s assertion is often a blatant lie and falsely misrepresents the bill more info that was signed into law, in addition to its harm to retirees.
Folks claiming social security Rewards who will be under 65 or previously mentioned All those earning thresholds will see no tax reward.